Dogecoin (DOGE) Price Struggles to Maintain Momentum
The price of Dogecoin (DOGE) recently surged to $0.48, its highest level since 2021, while its market capitalization surpassed that of Porsche, reaching $58 billion.
However, indicators such as the EMA line suggest that the current uptrend may be losing momentum and may reverse.
DOGE Ichimoku cloud shows potential shift in sentiment
Ichimoku Cloud Atlas Dogecoin Shows consolidation phase. Prices are currently trading around Kijun-Sen (orange line) and Tenkan-Sen (blue line).
dog price Hovering at the edge of the cloud (Senkou Span A and B), indicating uncertainty in momentum. While the price has not yet clearly broken below the cloud, its proximity suggests that bullish momentum is waning and the cloud may now act as a key support area.
The green cloud structure suggests that medium-term support is currently intact, but the lack of strong upward movement above the Tenkan-Sen and Kijun-Sen lines reflects the market’s hesitation.
if dog The price failed to recover higher levels and fell below the clouds, which could signal the beginning of a bearish trend. On the other hand, a clear breakout of Kijun-Sen as trading volumes increase could reignite bullish momentum and push the price higher.
Dogecoin’s current trend is no longer strong
The DOGE DMI chart shows that its ADX fell from 25 to 18.7 in just one day, indicating that the trend is weakening. ADX (Average Directional Index) measures the strength of a trend regardless of direction and ranges from 0 to 100.
Values above 25 indicate a significant trend, while values below 20 indicate a weak or no trend. The decline in ADX suggests DOGE recent momentum It is losing momentum and the market may be entering a consolidation phase.
With the positive indicator (D+) at 19.3 and the negative indicator (D-) at 17.7, the marginal advantage of D+ over D- reflects a slight bullish bias. However, the small gap between the two indicators highlights the indecision in the market, where neither buyers nor sellers have strong control.
for Dogecoin In order to establish a clear trend, either D+ needs to rise sharply to confirm new bullish momentum, or D- must rise to signal increasing bearish pressure. Until then, price action is likely to remain range-bound.
DOGE Price Prediction: Can it reach $0.50 soon?
dog price It recently reached its highest level since 2021, peaking at $0.48 on November 23. Its market capitalization currently stands at $58 billion, surpassing iconic carmaker Porsche’s $56 billion.
If DOGE price is able to regain its bullish momentum, it could retest the $0.48 resistance and potentially rise to $0.50 or even $0.60, near the all-time highs.
However, DOGE’s EMA line indicates that the current trend may reverse into a downtrend as a death cross may form soon. if Dogecoin Price A break below the key support level of $0.36 could see a further drop to $0.14, the lowest level since early November.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
