Dogecoin (DOGE/USD) Price Declines in a Correctional Mode
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Dogecoin Price Prediction – August 22
There has been an exhaustion of swing highs in the DOGE/USD market activities as the crypto economy declines into a correctional mode having been unable to stay sustainably afloat over the $0.09 level recently. To be precise, the price is traded at $0.0666 at an average negative percentage rate of 3.90.
DOGE/USD Market
Key Levels:
Resistance levels: $0.08, $0.09, $0.10
Support levels: $0.06, $0.05, $0.04
DOGE/USD – Daily Chart
The daily chart showcases Dogecoin’s price declines in a correctional mode trading against the US Dollar. The 14-day SMA indicator positions at $0.0713 below the $0.0790 value line of the 50-day SMA indicator. The baseline is drawn at the $0.06 support level. The Stochastic Oscillators have traveled southbound into the oversold region to keep 4.35 and 3.96 range points within as of the time of writing. It shows that the former trading instrument may still stay under a depression pairing with its former trading fiat monetary tool.
Is there any possibility that the DOGE/USD market decline to the baseline at $0.06?
The trading pace outlook of the DOGE/USD market may still downsize to the baseline at $0.06 as the crypto economy declines into a correctional mode. As it has been acknowledged that the market arena has been somewhat dominated by a significant falling force, long-position placers may now have to be on the verge of getting repointing while every indication supports the possibility of resurfacing of rebounding motions from the drawing of the baseline drawn
The downside of the technical analytics write-up suggests that the DOGE/USD market bears may in the near time lose momentum while it fails to breach southward past the $0.06 support level was termed the critical point to the furtherance of falling pressures afterward. Despite the current appearance of a bearish candlestick in the making, short-position placers need to not erase the possibility of resurfacing of a bounce-off as there has been an oversold reading condition by the Stochastic Oscillators.
DOGE/BTC Price Analysis
Dogecoin’s market trending force against that of Bitcoin has relatively resorted to an in-active moving manner to sustain its worth over the buying signal side of the SMAs. In other words, the currency pair price declines in a correctional mode, touching the smaller SMA. The 50-day SMA indicator has been crossed tightly above the 14-day SMA indicator. And they are over a baseline drawn beneath them. The Stochastic Oscillators have crossed southbound to the range points at 30.32 and 25.08. That signals the base crypto still stands the risk of debasing.
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