Dogecoin Awaits a Bull-run in 2020 After Spending Flattish 2019

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Dogecoin has attempted to match up with the current market bulls as the market is proceeding with a bullish bias since mid-January this year. The altcoin has witnessed a noticeable lack of momentum in the previous year.

Dogecoin Price Prediction

If we look at how the coin had seen tremendous price escalations in the years of 2017 and 2018, it is high time for Dogecoin to have a price rally. In June 2017, the currency had noted a rise of 1481% before tracing a falling wedge. The coin surged exceptionally just before it entered 2018 with a bang. Here, the coin reached as high as $0.0144 with an escalation of 1076%.

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DOGE/USD Chart By TradingView

Dogecoin strongly pulled back to $0.0033 and then formed a few lower highs. In 2019, over-all marked had seen quite a bit of uptrend, but the currency seemed unaffected by it. Since then, the coin is carrying a bearish pressure. Also, it has traced a Head-and-shoulder pattern indicating a plunge. This year, the coin has formed a few bullish candles and the coin is expected to shift its price trend upwards.

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Yesterday’s chart exhibits a gradual price rise of Dogecoin. The coin has escalated by 9.09% before closing. However, today, the coin has corrected down to $0.0024. Also, RSI of the coin is at 50, showing no extremities while MACD is about to have a bullish crossover near zero-line.

Dogecoin has been facing resistance above $0.00254 since yesterday. The stiff resistance can get cleared if the coin maintains a steady uptrend.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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