- The DOGE coin price is getting good support from the 50-day EMA
- The DOGE/BTC pair was trading at 0.000006007 BTC with a gain of 1.08%
- The 24 hr trading volume in DOGE is $2.23 Billion.
On 27th August, the DOGE coin suggested the end of the retracement phase when the price bounced from the $0.263 support with a bullish engulfing candle. However, the price is still trying to sustain above the $0.3 mark, which is crucial for continuing the bullish rally.
The EMA’s indicate that the DOGE coin remains in a bullish market as its price is higher than any of the critical EMA’s (20, 50, 100, 200). Moreover, the price is currently getting good support from the 50 EMA line.
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The RSI (BULLISH) value is at 57, indicating a bullish sentiment in the coin.
The DOGE Coin Crypto chart in the 4hr time frame
The DOGE showed the formation of a double pattern in the 4hr time frame. This pattern had its neckline at the $0.3 mark. Thus, on 2nd September, the price gave a decisive breakout from this level neckline, luring the Crypto traders to go long in BNB coin. However, the price is still hovering above the broken resistance with no sign of any upcoming strong move yet.
The Moving average convergence divergence (BEARISH) shows both the MACD and the signal line are moving above the neutral zone(0.00), indicating the bullish momentum in the coin. However, the wavering price movement has brought these lines to close together, making it challenging to get a proper signal.
Conclusion: From the technical perspective, the overall trend of the DOGE coin is still bullish. And as mentioned above, the coin is trying to continue with its bull rally as the retracement phase seems to be ended. Thus, the price managing to reclaim the $0.3 will be a great relief for the DOGE coin investors.
Support– $0.263
Resistance– $0.3, $0.34
