Dogecoin Price Prediction: Can DOGE Hit $0.25?
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Dogecoin's price is facing significant resistance around $0.23, with the next major hurdle at $0.25. Recent price action has shown weakness, with liquidations among traders betting on higher prices. While support has held above $0.21 on both 4-hour and hourly charts, a break below this level could signal further decline. Analyst MindfullyLost points to the importance of breaking through the $0.23 resistance as confirmation of an uptrend. A successful breach would then set the stage for a test of the crucial $0.25 resistance. Failure to clear $0.25 could lead to a price drop back towards the $0.21 support level. Currently, the price is consolidating, with a potential period of sideways movement and continued battle between buyers and sellers. Bulls need to push the price higher to test the $0.23 resistance. A deeper drop into oversold territory could, paradoxically, set the stage for a stronger rebound. Long-term price predictions vary widely among analysts, with some anticipating a return to the all-time high of $0.71, others predicting $1, and even more bullish forecasts reaching as high as $10. The near-term focus, however, remains on overcoming the immediate resistance levels at $0.23 and $0.25.
(Source: https://www.newsbtc.com/news/dogecoin/dogecoin-price-resistance-0-25/)
