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DOGE Price Prediction for May 3

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Fri, 3/05/2024 - 13:03
DOGE Price Prediction for May 3
Cover image via www.tradingview.com

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Most coins are facing a bounce back on the market, according to CoinMarketCap.

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Top coins by CoinMarketCap

DOGE/USD

DOGE is one of the biggest gainers today, going up by 4.14%.

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Image by TradingView

Despite today's rise, the price of DOGE is coming back to the local support level of $0.1312. If the situation does not change by the end of the day, there is a chance to see a breakout, followed by a move to the $0.13 area.

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Image by TradingView

On the bigger time frame, the rate of the meme coin has made a false breakout of yesterday's peak of $0.1344. 

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If the bar closes far from it, the correction may continue to the $0.1250 zone until the end of the week.

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Image by TradingView

From the midterm point of view, one should focus on the weekly bar closure in terms of the level of $0.1225. If it happens near it, the accumulated energy might be enough for a further drop to $0.11.

DOGE is trading at $0.1323 at press time.

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