Dogecoin (DOGE/USD) Market Breaks Down into $0.060 and $0.050
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Dogecoin Price Prediction – September 19
In the wake of continuing a declining motion in the DOGE/USD trade activities, the crypto market now breaks down into the $0.060 and $0.050 range zones. The last several hours into today’s operations have produced a high and a low of $0.0583 and $0.0559 as the crypto economy maintains a negative percentage rate of 1.92.
DOGE/USD Market
Key Levels:
Resistance levels: $0.065, $0.075, $0.85
Support levels: $0.050, $0.045, $0.040
DOGE/USD – Daily Chart
The daily chart reveals the Dogecoin market breaks down into $0.060 and $0.050 range trading spots, a sequence to the weakness of bulls to push successfully past the trend line of the smaller SMA during yesterday’s operation. The 14-day SMA trading indicator is at $0.0626, underneath the $0.0717 point of the 50-day SMA indicator. The Stochastic Oscillators have crossed southbound below the range of 60 to 50.22and 40.34 range lines to signify the market may still suffer a setback in its valuation. Will the DOGE/USD market’s worth hold more lows around the $0.060 and $0.050 value lines?
There is a likelihood that the DOGE/USD market’s worth will hold more lows around the $0.060 and $0.050 value points in the following sessions as the crypto’s price breaks down into those lines. It now shows buyers would have to be patient to see what will be the pattern around the presumed lower range line when a bullish candlestick will re-surface to confirm the probability of an upward swing resuming afterward.
The downside of the DOGE/USD market technical analysis, a sudden breakdown of the business activities at the $0.060 logical line may bring the price direction to feature in a range-bound mode. If buyers fail to push back above the value line, there will be a prolongation of ranging motions around those points mentioned above for some time. Sellers need to be wary of joining the moves beyond the $0.050 psychological support level to the downside.
DOGE/BTC Price Analysis
Dogecoin has initially dropped toward the pivotal baseline drawn below the trend lines of the SMAs against Bitcoin’s trending ability before converging around the trading indicators. The 14-day SMA and the 50-day SMA are closely situated. And they point more eastwardly than the other directions. The Stochastic Oscillators are around the 80 range, maintaining 80.92 and 80.57 range points. The potency reading condition of the current bullish candlestick suggests if a reversal occurs at any point, the base crypto will likely experience a gross loss of momentum against its counter-trading crypto.
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