Dogecoin Price Prediction: DOGE stands in a no-trade zone awaiting a potential 33% move – FXStreet

Lorenzo Stroe Lorenzo Stroe
FXStreet

After several massive moves thanks to Elon Musk, Dogecoin has finally calmed down in the past 24 hours. The digital asset is currently inside a symmetrical triangle pattern and it’s on the verge of a massive price move.
On the 1-hour chart, Dogecoin has established a symmetrical triangle pattern which is on the verge of bursting. The resistance level is located at $0.0806, a breakout above this point would drive Dogecoin price towards $0.106, a 33% move. 
doge price
DOGE/USD 1-hour chart
It seems that DOGE bulls have the upper hand as the network growth of the digital asset has continued to rise. The number of new addresses joining Dogecoin’s blockchain has increased by 33% in the past week. Similarly, the amount of active addresses on the network also grew by 28%. 
doge price
DOGE Network Growth chart
Nonetheless, a breakdown is also entirely possible as both support and resistance levels are extremely close to each other. Losing $0.078 would quickly drive Dogecoin price down to $0.053.

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