Dogecoin (DOGE/USD) Trade Looks for Support at $0.08
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Dogecoin Price Prediction – February 27
A level of exhaustion has been playing in a correct valuation of the DOGE/USD market as the crypto business operation looks for support of around $0.08. In the meantime, the less active declining motion has been recorded toward the downside at a minute average price percentage rate of 0.24, trading around $0.0818 after visiting a low-value line at $0.0806. As of the writing of this technical sentiment, neither buyers nor sellers would have to execute new order.
DOGE/USD Market
Key Levels:
Resistance levels: $0.095, $0.105, $0.115
Support levels: $0.070, $0.065, $0.60
DOGE/USD – Daily Chart
The DOGE/USD daily chart showcases the Dogecoin trade activity and looks for support around the $0.08 level against the US Dollar. The 14-day SMA trend line is at $0.0850 above the $0.0838 point of the 50-day SMA trend line. The bullish trend line remains drawn northward from the former lower range trading spot to the $0.08 upper range line to ascertain the degree of rising compliance against the USD. The Stochastic Oscillators have traversed into the oversold region, trying to cross northbound at 9.66 and 10.48 levels.
What is the potential price action for the DOGE/USD market in the near session?
The current obtainable psychological trading thought suggests no tangible signal worth leveraging has been noticed in the DOGE/USD market as the crypto’s price looks for support around $0.08. Buyers still need to be cautious of coming back in other to allow resurfacing of patterns that will signify a long overdue staying of the market around the point in question before determining whether to relaunch a buy order afterward.
On the downside of the DOGE/USD technical analysis, the SMA points at $0.0850 and $0.0838 are the two close points acting as the barriers to a bullish trend resumption. Therefore, if bears can establish their strength in the market by not allowing price increases to pass sustainably through those values in the long run, a consolidation of declining cycles may lead to another round of retracement proceedings back into the previous range-bound spots.
DOGE/BTC Price Analysis
In comparison, Dogecocoin has bent southwardly in a series of production of smaller bearish candlesticks against Bitcoin underneath the trend lines of the SMAs. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators have been moving to consolidate their presence to indicate that a debasing moment is ongoing. Based on that, it might take some time before the base crypto will regain momentum, especially if the smaller SMA remains unbreached to the upside.
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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