Dogecoin (DOGE/USD) Price Loses Momentum, Following a Rise
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Dogecoin Price Prediction – November 15
Activities that have been featured to demonstrate bulls’ gravitational weights in the DOGE/USD market against the US coin are making a reversal sign, given that the crypto-economic trade loses momentum around the point of $0.080, following a rise.
The anticipated bullish trading cycle has been amassing positions from various strong lower trading zones in anticipation of appreciating above its most recent highs after regaining the necessary energy to do so. This is now speculatively turning into a shift in the game. If that assumption holds true, investment trade philosophies must generally be upheld since the majority of abandoned crypto economies have mechanisms in place to ensure that the best appreciation motions are obtained in the ensuing operations.
DOGE/USD Market
Key Levels:
Resistance levels: $0.080, $0.085, $0.090
Support levels: $0.065, $0.060, $0.055
DOGE/USD – Daily Chart
The DOGE/USD daily showcases that the crypto-economic price loses momentum around the psychological resistance point of $0.080, following a rise.
The stochastic oscillators are primarily positioned southward, as the blue line has been placed in the oversold region. Yet pointing to the downside in the area. However, a trading candlestick shows the base crypto is making efforts to push back against the counter-trading instrument. The Bollinger Band indicators are in a northward-moving mood, portending that the crypto market is trying to formulate a bullish flay pattern.
How crucial would it be for the bears in the DOGE/USD market to push through the $0.065 level as it hovers at $0.0734?
As it is, levels of falls have been featuring to checkmate continuous uprising forces as the DOGE/USD market loses momentum around the resistance of $0.080 in recent activities, following a rise.
Currently, it seems that sellers have gained a trading window into which to build entries in order to prevent free increases around or slightly over the $0.080 mark. That being said, in the event that the market makes a new and unprecedented breakout against the point, short-position takers might need to hold off on entering the market around that value line with a keen understanding of when to execute a stop-loss order.
According to this technical analysis, a bullish candlestick is developing around the middle Bollinger Band trend line, signaling the start of a rebound for long position takers. In the near future, nevertheless, there may be more lows that are close to or to the downside of the lower Bollinger Band. Investors are to maintain their positions through all circumstances.
DOGE/BTC Price Analysis
In contrast, the Dogecoin market loses momentum around the upper Bollinger Band trend line against the purchasing power of Bitcoin, following a rise.
Despite this, the Bollinger Band trend lines are positioned lower to support the possibility of seeing a bullish flag pattern. To create a faint hint of range-bound formation, the stochastic oscillators have been veering upward and downward through various locations. Based on an overall analysis, the primary cryptocurrency is gaining momentum in opposition to the crypto that is being counter-traded.
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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