Dogecoin (DOGE) Price Prediction for July 23
Main Idea
Dogecoin (DOGE) is stabilizing below $0.27 after breaking out from a descending structure, with key resistance at $0.277 and support at $0.262, while indicators suggest a bullish trend despite short-term consolidation.
Key Points
1. Dogecoin price is holding near $0.266, just below resistance at $0.277, after reclaiming major support above $0.25.
2. The daily chart shows a breakout from a downward structure, with DOGE trading above prior liquidity pools ($0.22–$0.25), confirming an upward trend.
3. Short-term price decline is attributed to exhaustion after hitting a local high of $0.287, with resistance at the upper Bollinger Band ($0.285) and cooling momentum (RSI at 47.2).
4. Derivatives data shows bullish long/short ratios and rising options open interest, though mild overleveraging is noted with $24.37 million in long-side liquidations.
5. Key levels to watch: Resistance at $0.277 (breakout target $0.295–$0.305) and support at $0.262 (breakdown target $0.246). EMAs and Bollinger Bands suggest a bullish near-term outlook.
Description
Dogecoin is stabilizing below $0.27 following a breakout from its descending structure. Dogecoin price today is holding near $0.266, trading just under resistance after reclaiming major support. Buyers stepped in strongly above $0.25, helping DOGE recover from its earlier slide and reclaim key chart levels across multiple timeframes. What’s Happening With Dogecoin’s Price? DOGE price forecast (Source: TradingView) On the daily chart, Dogecoin has broken out from a downward-sloping parallel chann...
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