Dogecoin’s (DOGE/USD) Market Downsizes, Rebounding Against $0.060
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Dogecoin Price Prediction – August 21
A consequential price movement in the DOGE/USD trade operations demonstrates that the crypto market downsizes, rebounding against the point of $0.060 in a declining move.
Before purchasers can restore the full length of their energy-gathering cycle, a round of slowing forces has been anticipated to appear around the value line stated earlier. The transaction’s areas are currently turning negative as of the time of this technical write-up, retaining the lines between $0.0641 and $0.0619 at a negative figure percentage rate of 1.41. From a low point that might not be lower than the most recent level that the market tested during the fall volatility of the 17th day, it appears that bulls will reestablish their baseline.
DOGE/USD Market
Key Levels:
Resistance levels: $0.070, $0.075, $0.085
Support levels: $0.055, $0.050, $0.045
DOGE/USD – Daily Chart
The DOGE/USD daily reveals the crypto-economic market downsizes, rebounding against the $0.060 psychological spot of the lower horizontal line drawn.
More about the lower horizontal line drawn: it is expected to be the most vital arena for bulls to rest assured of getting reliable and decent buy entries whenever such an aggressive dumping situation occurs. The 14-day SMA indicator has slightly intercepted the 50-day SMA indicator to the south, making the trade signal points reduce from $0.0716 to $0.0703, respectively. The stochastic oscillators have formerly moved northbound from the depths of the oversold region to place a promissory note of closing at 20.97 and 18.55.
Should the southbound market pushers for DOGE/USD continue past the $0.060 mark?
Presently, as there has been a re-run of a correction-moving mode in the DOGE/USD trade activities, it might be technically wise to allow the completion of any bearish movement consolidation style, given that the crypto market downsizes, rebounding against the point of $0.060.
A phenomenon-longing procedure may start even if the present moves to the downside, as it has not been too far away from the lower horizontal line of $0.060. They are only required not to use larger lots, which could also constitute a kind of overleveraging.
It may be more dangerous to start placing new shorting position orders right now because the market is susceptible to an unusual bounce-off that could cause a whipsawed trade condition that won’t be appealing to sellers in the long run. Given that feeling, anyone taking a short position needs to be careful not to align themselves with any forces that might emerge near $0.060 or its lower level. 
DOGE/BTC Price Analysis
In contrast, Dogecoin is trading down against the trending capacity of Bitcoin, rebounding at some points below the moving averages above the lower horizontal line drawn.
To prevent a smooth push to the upside, the 50-day SMA indicator is positioned closely above the 14-day SMA indication below a crucial critical line. The stochastic oscillators have sprung northward from the oversold region to positions at 48.79 and 44.50 in an attempt to close their lines. And that can eventually result in a series of ranging motions or a situation that will cause further debasement movements in the pairing crypto business setting for some time.
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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