Dogecoin price sees bulls set to gain 125%. Dogecoin price remains stuck in price action. DOGE price has been very well supported, with volume gains on the buy side over the past few weeks. An upside move can be expected as the bears pull back and open the way for a 125% bull run. On the other hand, Floki Inu is heading towards $0.000175 as the technical setup supports the FLOKI bears. Detail Cryptocoin. com
Dogecoin (DOGE) price has been in an uptrend since April but has seen some rapid price action along the way. However, the lower end of the DOGE price reaction is consistently supported by the bulls around the green ascending trendline. Analyst Filip L. says: “As price squeeze sees lower highs and higher lows, expect a bullish breakout towards $0.53. “Dogecoin price has seen buy-side volume skyrocket in the past few weeks since September. With these opportunities, bulls can add more weight to their previous or new long positions. The green ascending trendline remains stable and is unlikely to give up anytime soon. DOGE price sees the red descending trendline from the top looking a little weak with just a retest two weeks ago. According to the analyst, DOGE price will definitely rise above that as the current level of mounted buying volume is too large to match the short patterns in Dogecoin.
Once the Dogecoin price gets some headwinds to support the move, expect the breakout to accelerate further and DOGE price could rally to $0.53 quite quickly without any bears for any counterweight. If the backbone of the current rally in DOGE price doesn’t hold, expect the $0.20 level to remain intact. In the past weeks, this level has been available as the S1 support level and has yet to see any testing. According to the analyst, it will see the bulls increase the price of Dogecoin as the altcoin is still present in the media and has some headwinds from it.
Forecasts for FLOKI
According to analyst Dhwani Mehta, Floki Inu is heading towards $0.000175 as the technical setup supports the FLOKI bears. Floki Inu price is looking down amid bearish techniques on the 4-hour chart. FLOKI bulls were unaffected by the fact that Floki Inu was likely listed on four crypto exchanges. Defending $0.00022 is critical for FLOKI bulls, stiff resistance awaits at $0.000255. Floki Inu price is struggling to stabilize lower this Sunday after witnessing volatile trading last week.
The dog-themed coin has recorded a second weekly loss, seeing a deeper correction from the record highs of $0.000405 reached on Nov. FLOKI price is likely to increase its corrective decline in the near-term, reducing investor interest in dog-inspired meme coins so far this month, according to the analyst. Floki Inu price tests descending triangle support. As seen on Floki Inu’s four-hour chart, Floki’s bears are holding the reins after the coin failed to resist higher. In doing so, Floki’s price also broke the critical short-term bearish 21-Simple Moving Average (SMA) at $0.000243.
The bearish move triggered a new selling wave in FLOKI price, exposing the horizontal trendline support at $0.0022. A four-hour candlestick closing below this level would confirm a bearish breakout from a two-week descending triangle formation. A major sell-off at $0.00175 towards the horizontal (orange) trendline support will occur later. The Relative Strength Index (RSI) is falling sharply, making room for more declines.
Analyst’s FLOKI predictions continue: Any upside correction will need acceptance above resistance which turns into 21-SMA support. FLOKI bulls will then face the next important resistance near $0.00255, the intersection of the 50 and 100-SMAs, the falling trendline resistance. Note that the 50 and 100-SMA bearish crossover confirmed on Saturday added to the pain in FLOKI price.