Dogecoin (DOGE/USD) Market Expands Significantly
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Dogecoin Price Prediction – October 31
The present trading situation showcases that the DOGE/USD market expands significantly beyond its long-kept resistance trading zone around $0.080 to touch $0.15. The price is between $0.1264 and $0.1139, with a minute negative percentage rate of 0.09.
DOGE/USD Market
Key Levels:
Resistance levels: $0.13, $0.15, $0.17
Support levels: $0.10, $0.09, $0.08
DOGE/USD – Daily Chart
The daily chart showcases that the DOGE/USD market expands its operations significantly out of the range-bound spots of $0.080 and $0.060 that the crypto economy maintained over a couple of sessions. The upper and the lower horizontal lines drew around those value lines. The 14-day SMA indicator is at $0.0749 above the $0.0697 value point of the 50-day SMA indicator. And they are in the range of spot points. The Stochastic Oscillators have elongated their movements northbound into the overbought region, trying to cross back their lines southbound from within at the range values of 96.13 and 92.27.
Will the current DOGE/USD market bullish outlook provide a better chance to get sell entry positions?
A lot of rejections are bound to resurface around high-trading zones, involving most of the resistance values listed above as the DOGE/USD market expands significantly. A warning sign against making gains at this time has located around $0.12. Therefore, buyers need to stay off the market activities for a while.
On the downside of the DOGE/USD market, sellers may now have to be alert of false pull-ups around the $0.12 toward the $0.14 resistance spot before considering taking a re-sell entry position afterward. After its current upward trend, the crypto economy is likely to experience a correction process. And the main trading line barrier has been set around the $0.14 resistance level.
DOGE/BTC Price Analysis
In comparison, Dogecoin has been able to push into a bullish-trading outlook against the trending ability of Bitcoin. In other words, the pairing cryptocurrency market expands significantly above the buy signal side of the SMAs. The 14-day SMA indicator has crossed northward from the 50-day SMA indicator, placing it in the range-bound zones. The Stochastic Oscillators have penetrated the overbought region, keeping the range values at 96.72 and 93.48. That shows the base crypto is on the verge of debasing its stance against the counter-trading crypto.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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