Dogecoin (DOGE/USD) Market Trades Between $0.06 and $0.08
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Dogecoin Price Prediction – August 15
Trading activities involving Dogecoin and the US Dollar have been around specific range-bound spots as the crypto market trades between $0.06 and $0.08 value lines over several days; sessions. The last few hours into today’s operations have witnessed a high of $0.0819 and a low of $0.0797 at an average percentage rate of 1.59 negative.
DOGE/USD Market
Key Levels:
Resistance levels: $0.09, $0.10, $0.11
Support levels: $0.06, $0.05, $0.04
DOGE/USD – Daily Chart
The DOGE/USD daily chart showcases the crypto market trades between $0.06 and $0.08. The baseline drew at the $0.06 support level below the trend lines of the SMAs. The 14-day SMA indicator is at $0.0706, underneath the 50-day SMA indicator’s value line of $0.0800. The Stochastic Oscillators are in the overbought region, conjointly consolidating northbound within. That indicates a force is somewhat taking place at a higher trading zone.
At this point, does the DOGE/USD market have the capacity to surge higher over the $0.0800?
From the technical point of view, at this point, the DOGE/USD market seems to lack the ideal capacity to surge higher sustainably over the $0.0800 level. And the value line can also be regarded as the upper range trading spot that has been, over time. Therefore, long-position traders are expected to be patient while executing buying order techniques to avoid unnecessary bulls’ traps in no time.
The downside of the technical analytics write-up is that the DOGE/USD market bears would have to muster energy between the $0.0800 and the $0.0900 to stage an early decent selling pace. On the contrary, those value lines can still term okay for investors to come in either by buying afresh or adding more to the existing portfolio and allowing the market to run. Short-position placers may count upon an active reversal-moving mode immediately it tends to occur, around the formerly mentioned point in this paragraph.
DOGE/BTC Price Analysis
Dogecoin has been striving not to be debasing against the trending capability of Bitcoin over a couple of times. The cryptocurrency pair market trades between higher value lines, while the SMA trend lines are at the lower area. The 14-day SMA indicator is tightly underneath the 50-day SMA indicator as they both trend toward the east direction. The Stochastic Oscillators are in the overbought region, not too long staying in a consolidation manner to indicate the base crypto is yet to lose the momentum to its counter-trading crypto. Mindfully, a smaller bearish candlestick is in the making, serving as a warning sign that a downward move is in the offing.
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