- The trading volume of DOGE coin in the last 24hr at the time of writing this article is +3.63%
- The price of DOGE/BTC and DOGE/ETH at the time of writing this article is 0.000004716BTC and 0.00006844ETH respectively
- 20MA crossed both 100MA and 50MA bearish signal
LONG TERM VIEW:-
We are able to see 2 green candles after the 3 black crows candlestick pattern which is very bearish. One of the reasons is why we are able to see the bulls winning the fight as ELON MUSK tweeted about the hamster who is trading crypto from june 12 and giving out 20% return and ELON said “Hamster has made skillz”.
Now let’s look at the technical indicator so we can get a good idea of the price analysis, we can see that the MACD is showing red histogram as the MACD line is below the Signal line but we can see that the MACD line is changing its direction and heading towards the Signal line they might cross soon.
In addition to that we can see the RSI is in the neutral zone near the 36 and it is pointing towards the 70 line which is the overbought zone. Lastly we can see the Moving Average as the 20MA is below the 50MA and 100MA too which is a bearish sign and the 50MA is also below the 100MA.
SHORT TERM VIEW:-
We can see in the 4hr time frame the price is not able to break the 20MA resistance and has already tried thrice but now the price is above the 20MA and the next candle after this will be crucial. In addition to that we can see RSI is in the neutral zone near the 48 and it is pointing towards the 70 line (overbought zone). At the end we can see the MACD is showing green histograms as the MACD line is above the Signal line.
CONCLUSION:-
Looking at both the long and short term view we can see the bulls are trying to push the price above if the bulls are able to push the price above the 20MA then it will test on 50MA but if failed to do so the bears will take the price down making a lower support as shown in the Chart.
RESISTANCE:- $0.23,$0.25
SUPPORT:- $0.18,$0.15