- The DOGE coin shows a bearish crossover of the 20 and 100 EMA in the daily time frame chart
- The DOGE/BTC pair was trading at 0.000005006 BTC with a loss of 0.06%
- The DOGE coin 24hr trading volume is 865.5 Million
The DOGE coin experienced intense selling pressure on 7th September, just like many other Crypto coins, which has pushed the coin price to the support of the $0.23 mark. This support level is important for the DOGE coin as there is a confluence of 200 EMA and 0.618 FIB. However, the coin price is still hovering above this level, encouraging a bounce back and continue with its rally.
The DOGE’s current price is higher than the trend diffing EMAs 200, which indicates a bullish trend is still intact. However, the chart also shows a bearish crossover of the 20 and 100 EMA, attracting more buyers in the coin market.
The RSI value of 40 suggests a bearish sentiment regarding the DOGE coin.
The DOGE Coin price is Consolidating in a Short-range
For the past two weeks, DOGE coins have traded between $0.263 to $0.231, creating a small range on the DOGE/USD chart. The new range in the coin price could offer an excellent entry opportunity to Crypto traders who are interested in this coin. Thus, these traders should wait for the price to breakout out from either level of this range to trigger the entry signal.
The moving average convergence/divergence (MACD) indicator shows that signal and MACD lines are moving below the neutral zone (0.00), indicating bearish momentum in this coin.
Conclusion: Technically, the overall trend for DOGE coins remains bullish. And as mentioned above, the price is wavering above the 0.23 support preparing for its next move. The Crypto trader can take advantage of its small range to ride the uptrend once the price gives a breakout from the overhead resistance.
Support: $0.231
Resistance $0.263