Dogecoin (DOGEUSD) Price Forecast: April 8
The Dogecoin (DOGEUSD) price may likely continue its bullish move as it trades above the supply trend level. The crypto might likely continue its upside move if the current support at $0.0840 value holds, and the daily chart closes above the $0.1510 resistance level, then there is a high probability of the price going up to its recent swing high, which is $0.1584 resistance trend line and beyond.
Key Levels:
Resistance Levels: $0.1200, $0.1300, $0.1400
Support Levels: $0.0800, $0.0700, $0.0600
DOGE (USD) Long-term Trend: Bullish (Daily Chart)
The DOGEUSD pair is in a bullish market zone in its higher time frame as can be seen from the chart below. The price is recovering and trades above the two EMAs with its wick touching the EMA-9. This is an indication of an uptrend.
The bullish reversal at the $0.1190 high value in the past few days has sustained the crypto above the trend line in its recent high.
The market price of Dogecoin at a $0.0922 high level above the moving averages shortly after the daily chart opens today indicates that buyers have the market price at their disposal. Should the bulls prove stronger and the coin price rise further up from the $0.0922 current level and jump above the $0.1584 supply mark, the bearish thesis would get invalidated.
Further, with the price signal indicating an uptrend, it means that the crypto is likely going to face major resistance as a result of this the bullish strength might possibly extend the coin price to reach the $0.2000 supply mark in the days ahead in its higher time frame.
DOGE (USD) Medium-term Trend: Bullish (4H Chart)
Despite the interference by the bears the Dogecoin price is trading in a bullish trend market zone. The sustained bullish pressure at the $0.0985 supply level during the previous action actually made it capable for the buy investors to retain the strength in its recent high.
The market price of DOGEUSD at a $0.0919 high level above the EMA-50 indicates that the bulls are on top of the market at the moment. Hence, should the bulls increase their buying power and close above the $0.1190 resistance value, additional intraday gains would be recorded for the buy investors.
Thus, there is an indication that the price will rise further as indicated by the price signal pointing up. It is expected of buyers to push the coin price up to a high level of $0.2000 in the coming days in its medium-term outlook.
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