Doge price analysis: Dogecoin is punching 100ma, below price targets

DOGE price up nearly 40% last week
Bulls-Doji try 100MA punch
Rising channel keeps price on upward trend

The Dog price has struggled to gain momentum in recent weeks as many coins in its class have doubled. Many expect the Doge price to fall slightly behind and soon rise to the middle of $ 0.30. As the overall cryptocurrency market has shown more strength in recent weeks, the Doge may try to return to levels traded in May. This can only happen when the BTC is stable or elevated so that the Doge runs out of time to show its strength. Capitalized coins indicate that a short-term downward trend may occur before prices make their next move.

Looking at the last few weeks of price movement, we see that the Doge price has been tracking a channel that has been rising since the $ 0.16 drop was established. This is a bullish sign and the price will continue to rise until it reaches a lower trend. As of this writing, the Doge is trying to stay above the great resistance zone. Price has been working under the brand for almost two months. If the bulls manage to maintain this resistance, the Doge can push towards the set goals.

Doge Price Analysis: 1-day Doge / USDT price chart

Along with the large resistance zone lies 100 ma. This MA has kept the price low for about 6 weeks, and a break on it will certainly move in the opposite direction. There is also an upward trend in this area. If the price fails to beat both brands, the DOGE will have to return to a lower rising channel trend. This area was also met with a big boost, which could be found at $ 0.239. The price will probably rebound from this area, but in this case the DOGE will be on a short-term downward trend, which could cause prices to fall below $ 0.20.

As long as we look at the stochastic RSI, we can conclude that it is almost extinct. This means dog will soon have to break up its key brands otherwise

Join the Discussion

  • BrokerEUR/USD
    OANDA 1.3pips (variable) margin: 3.33%
    IG 0.6pips (fixed) margin: 3.33%
  • Back to top