Dogecoin (DOGE/USD) Market Drops Lightly From $0.08
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Dogecoin Price Prediction – November 21
What looks like the DOGE/USD trade bulls are yet to rebuild their stances from the declining forces inflicted on the transaction between the duo trading instruments has let the crypto market drops lightly further around the $0.080 line. Price is currently trading below a high point of $0.0772 at an average negative percentage rate of 1.30.
DOGE/USD Market
Key Levels:
Resistance levels: $0.090, $0.10, $0.11
Support levels: $0.065, $0.055, $0.045
DOGE/USD – Daily Chart
The DOGE/USD daily chart showcases the crypto market operation drops lightly around the $0.080 trading level. A bearish trading candlestick indicates a falling force has emerged, slightly breaking the previous upper range line into the range-bound zones. The lower horizontal line drew at the $0.060 support level to mark the maximum low point that the price may fall afterward. The 14-day SMA indicator is at $0.0874 above the $0.0787 value line of the 50-day SMA indicator. At 15.50 and 10.13, the Stochastic Oscillators are in a brief southbound-crossing mode.
What has to be the traders’ approach currently as the DOGE/USD market drops lightly past the $0.080 level?
Traders, especially the DOGE/USD market bulls to be cautious of exerting a buying order as the crypto’s valuation drops lightly more around the $0.080 level. An occurrence of a bullish candlestick needs to be before re-nursing the thinking of buying back. On the contrary technical note, buyers with a big capital may launch a buying order now based on the usage of the smallest lot size.
On the negative side of the technical analysis, the DOGE/USD market bears have to consolidate their stances in the range-bound zones by pushing to or close to the lower range value at $0.060. If bears attempt to reduce efforts against that feeling, the price may revert to a rallying motion in favor of bulls to recoup some of their lost points. Therefore, sellers are to be wary of the moment when the market will push northward back to the $0.080 upper range level.
DOGE/BTC Price Analysis
In comparison, the Dogecoin trade drops lightly against the trending catalyst of Bitcoin in a retracement-moving manner against the trend line of the smaller SMA. The paired cryptocurrency currency appears to be succumbing to downward pressure above the 50-day SMA indicator, below the 14-day SMA indicator. The Stochastic Oscillators have long-swerved slanting from the oversold region to get crossed back southbound on a lighter note to 15.44 and 9.38 levels. That indicates the base crypto is debasing, pairing with the counter-trading crypto.
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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