- DOGE crypto trading volume in the last 24hr is $1.2 billion
- DOGE/BTC price at the time of writing this article is 0.00000535 BTC
- The DOGE/USD price is at support
LONG TERM VIEW:-
DOGE/USD is at the support with the price of $0.24. In the daily time interval chart, we can see three black crows candlestick pattern, which is a huge bearish sign. Then we can also see the MACD is also showing the red Histograms, where the MACD line is below the signal line. On the other hand, when looking at the Moving Averages the 50MA and crossed 100MA in a positive direction but the 20MA is sloping downwards which can cross 50MA in a downhill direction. To confirm if the DOGE is overbought or oversold, the RSI is in a neutral zone near 36, meaning the price can go both ways.
SHORT TERM VIEW:-
Now let’s have a look at 4hr time interval. We can see there is a Bullish RSI divergence which states that there might be a bullish move coming soon. The RSI is now at 31 which is just above the oversold zone. Along with that MACD is also showing a bullish sign as MACD line and crossed the signal line in a positive direction showing green histograms. Nevertheless, when we look at the Moving average ( hr ) we can see that 20MA and 50MA have crossed the 100MA in a downslope direction. Which is stating a bearish momentum.
CONCLUSION:-
Looking at both long-term and short-term analysis. We can see that long term is saying a bearish movement and short term a bullish because of bullish RSI divergence which can show a change in the sentiment of the people as the price is at support it might bounce back up. So the final conclusion is if the volume is right the price might bounce back but if there is no good volume to support the price then bear may win the fight against the bull.
RESISTANCE:-$0.26,$0.30
SUPPORT:- $0.17,$0.13