Where Should You Invest for Long-Term Dogecoin? Current Dogecoin Analysis

  • Strong buying response from $0.099 – $0.097 support range.
  • 1.60% rise in the last 3 hours, Dogecoin at $0.10.
  • Consideration for long-term spot purchases if Dogecoin drops to $0.0875 – $0.0819.

The 3-hour Dogecoin analysis reveals a robust response from the $0.099 – $0.097 support range, propelling a 1.60% surge within the last 3 hours. As of the latest update, Dogecoin maintains a $0.10 price level.

MEDIUM TERM DOGECOIN ANALYSIS

2-Day DOGE/USD Price Chart
2-Day DOGE/USD Price Chart

When analyzing Dogecoin’s 2-day medium-term technical chart, it is evident that Dogecoin has been sustaining an upward trend. For investors seeking a long-term investment in Dogecoin, certain key spot buying zones have been identified.

Dogecoin may intend to continue its upward movement as long as the price remains above $0.098. However, if the price experiences a decline to the range of $0.0875 – $0.0819 in the upcoming months, we consider this a potential opportunity for the first long-term spot purchases. If Dogecoin initiates a renewed upward trend from the $0.0875 – $0.0819 support range, the initial target would be the $0.119 level.

In the event that Dogecoin fails to encounter robust buying reactions from the $0.0875 – $0.0819 support range, it could extend the downward movement to approximately $0.0724. Consequently, the $0.0724 level is identified as the second spot buying zone for long-term spot purchases. If Dogecoin realizes a bullish trend in 2024 – 2025, it has the potential to reach the $1 level.

SHORT TERM DOGECOIN PRICE ANALYSIS

3-Hour DOGE/USD Price Chart
3-Hour DOGE/USD Price Chart

Upon analyzing the 3-hour technical chart of Dogecoin, a strong buying response has been observed from the support range of $0.099 – $0.097, resulting in a 1.60% upward movement in the last 3 hours. At the time of writing, Dogecoin is maintaining its price movements at the $0.10 level.

As long as the Dogecoin price stays above the support range of $0.099 – $0.097, it has the potential to initiate an upward movement, initially targeting $0.1065 and subsequently $0.11. However, for Dogecoin to reach $0.11, it is essential to achieve 3-hour candle closes above $0.106.

In the event that Dogecoin faces strong selling pressure from the $0.106 – $0.11 range and struggles to sustain stability above $0.106, a downward movement towards $0.0867 may ensue. Therefore, investors engaging in long positions should exercise caution.

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Crypto Vira
Crypto Virahttps://coinotag.com/
Alican is a young and dynamic individual at the age of 23, with a deep interest in space exploration, Elon Musk, and following in the footsteps of Atatürk. Alican is an expert in cryptocurrency, price action, and technical analysis. He has a passion for sharing his knowledge and experience through writing and aims to make a positive impact in the world of finance.
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