Dogecoin (DOGE) Continues Downtrend, Targets $0.29 Low

Dogecoin (DOGE) Continues Downtrend, Targets $0.29 Low

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bearish
DOGE’s price continues its downward move after rejection at $0.33. DOGE price at the same time broke below the moving averages. This will catapult the coin to the bearish trend zone. Since the breakdown on June 4, the crypto’s price has been making a series of lower highs and lower lows. The market is falling to a lower low at $0.30 or $0.29.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price is at level 43 of the Relative Strength Index period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping downward indicating the downtrend

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGE price is in a downtrend. DOGE price is making a series of lower highs and lower lows. On June 4 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DOGE will fall to level 1.618 Fibonacci extensions or level $0.3005. The crypto is falling to the 1.618 Fibonacci extension.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE is below the 20% range of the daily stochastic. It indicates that the coin is in a bearish momentum. It has fallen to the oversold region of the market. Later, we may see the emergence of buyers in the oversold region. The moving averages are sloping downward indicating the downtrend.

General Outlook for Dogecoin
DOGE/USD is in a downward move as price falls in the oversold region. The current downtrend is expected to reach the low of 1.618 Fibonacci extension or level $0.3005.

You can purchase crypto coins here: Buy Tokens


Note: Learn2.Trade 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Dogecoin (DOGE) Reaches Bearish Exhaustion, May Revisit $0.28 Low

Dogecoin (DOGE) Reaches Bearish Exhaustion, May Revisit $0.28 Low

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bearish
Since May 10, DOGE’s price was in a downward move. The upward correction is facing rejection at the high of $0.45. DOGE price has broken below the moving averages which suggest a further downward movement of prices. The crypto’s price is falling and may revisit the previous lows of $0.28 or $0.25.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price is at level 44 of the Relative Strength Index period 14. It indicates that the altcoin is in the bullish trend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping downward indicating the downtrend

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGE price is in a downtrend. On June 4 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DOGE will fall to level 1.618 Fibonacci extensions or level $0.2954. In the previous price action, the crypto reverse after testing the low of $0.28.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE is below the 40% range of the daily stochastic. It indicates that the coin is in a bearish momentum. The moving averages are sloping upward indicating the uptrend. The crypto’s price is below the moving averages which suggests that the coin may fall.

General Outlook for Dogecoin
DOGE/USD is in a downward move as the altcoin reaches bearish exhaustion. Dogecoin coin will reach previous low before upward resumption.

You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Dogecoin (DOGE) Fluctuates Between $0.40 and $0.44, Up-Trending

Dogecoin (DOGE) Fluctuates Between $0.40 and $0.44, Up-Trending

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bullish
Since May 19, DOGE’s price fell to $0.215 low and pulled back above $0.30. For the past two weeks, Dogecoin has been consolidating above the $0.30 support. Yesterday, the DOGE price broke above the moving averages and continued the bullish momentum. The coin will continue to rise as long as the price bars are above the SMAs. On June 1, the crypto rebounded above the $0.32 support to reach the high of $0.44. Since June 2, the bulls have been attempting to break the resistance at $0.44. Dogecoin now consolidates between $0.40 and $0.44 for a further upward move.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price is at level 54 of the Relative Strength Index period 14. It indicates that the altcoin is in the bullish trend zone and above the centerline 50. The 21-day and 50-day SMAs are sloping downward indicating the downtrend

DOGE/USD Medium-term bias: Bullish
On the 4 hour chart, the DOGE price is in an uptrend. The crypto’s price has broken above the moving averages and rallied to $0.44 high. On June 2 uptrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 1.272 Fibonacci extensions or level $0.482 and reverse. The coin will reverse to 78.6% Fibonacci retracement level where it originated.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE is above the 80% range of the daily stochastic. It indicates that the coin has reached the overbought region of the market. There is the possibility of sellers emerging in the overbought region. The moving averages are sloping upward indicating the uptrend.

General Outlook for Dogecoin
DOGE/USD is in an uptrend. The crypto’s price is above the SMAs which suggests that the coin is in the bullish trend zone. The coin will continue to rise as long as price is above the moving averages. DOGE price will reach a high of $0.48 if the current resistance is breached.


You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Dogecoin (DOGE) Consolidates Above $0.33 Support as Bulls and Bears Reach a Period of Indecision

Dogecoin (DOGE) Consolidates Above $0.33 Support as Bulls and Bears Reach a Period of Indecision

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bearish
Since May 19, Dogecoin fell to $0.215 low as bulls bought the dips. DOGE price corrected upward and resumed consolidation above $0.33. The coin has reached bearish exhaustion and may reverse but not immediately. Meanwhile, on May 10 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOGE will fall and reverse at level 1.272 Fibonacci extension or level $0.326. From the price action, the market has been consolidating above the $0.33 support for the past week.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE/USD has fallen to level 45 of the Relative Strength Index period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping upward indicating the uptrend

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGE price is falling. On May 9, the coin to level $0.444 and corrected upward to level $0.595. The upward correction was terminated. On May 9 downtrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that DOGE will fall to level 1.618 Fibonacci extension or the low of $0.23. On May 19, DOGE price tested the 1.618 Fibonacci extension as shown by a long candlestick tail. The candlestick tail is an indication of strong buying pressure above $0.21 support.

DOGE/USD -4 Hour Chart

4-hour Chart Indicators Reading
DOGE is below the 40% range of the daily stochastic. It indicates that the coin is in a bearish momentum. The moving averages are sloping southward indicating a downtrend. DOGE’s price is above the 21-day SMA but below the SMAs. A break below the SMAs will suggest a further downward move.


General Outlook for Dogecoin
DOGE/USD is consolidating above $0.33 support for a possible upward move. Today, the market is fluctuating below and above the 21-day SMA. The coin is trading at $0.339 at the time of writing.


You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade 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


  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Is Dogecoin (DOGE) a good long-term investment?

Is Dogecoin (DOGE) a good long-term investment?

You can still make money on Dogecoin in 2021!
As this article is being written, DOGE has gained close to 80,000% since its creation, despite the recent large pullback in the market. Price is bound to recover from here as the market moves higher.

You can make money from Dogecoin this year. Many investors have made money lots of money from that coin since it was created and many more will make money this year, even if they are newcomers.

For most of 2021, the overall bias on DOGEUSD is bullish, and while there would be large or minor pullbacks along the way, the market would quickly or slowly recover. Price might reach 1.00 USD and possibly reach 1.5 USD before the end of this year.

There are active crypto traders who make money from DOGEUSD by buying it when the RSI period 14 reaches the oversold region of less than level 30. They also sell the coin when it reaches the overbought territory of the RSI 14 level 70 on the daily chart, raking in huge gains as they ride DOGE price southwards.

Also, investors who buy the current pullback and hold till the end of December 2021, will have nice profits to show for their patience.

At the end of 2021, I would dump Dogecoin completely and convert the gains on it to cash or a stablecoin.
But I won’t hold Dogecoin (DOGE) for the long-term
Most cryptocurrencies are scams because they do not serve unique purposes or solve unique problems. Even certain cryptos that are believed to solve real problems have disappointed investors.

A number of coins which used to be household names and very promising some years ago have now become almost worthless. Some coins/tokens made money years ago, and they lost more than 90% of their value and have not recovered anything since then, even though cryptos generally went upwards in 2020 and 2021.

I will give examples of these coins in another article.

Some experts once thought that coins in the top 50 or the top 100 were to be trusted. Nonetheless, in the last 14 months, a considerable amount of coins got pushed out of the topmost 100; and while certain coins did not get pushed out too far, some coins got pushed too far, even close to the topmost 1000.
Why Dogecoin (DOGE) is not a good long-term investment
But why?

There is no way you can liken DOGE to ADA or ETH. There are huge differences. You can never compare DOGE to BTC. Yes, if one is a gem, the other is paper.

For instance, while BTC has limited/maximum supply by design, about 10,000 units of Dogecoin are created per minute. If Dogecoin reaches the resistance line at $1.00, its total value would be in the region of $129 billion, which will make it the number 3 crypto coin in the word in terms of market cap.

I quote a veteran, professional coach for traders and investors:

“..I personally think that DOGE is probably one of the worst cryptos even though it is currently ranked #5 in market cap. It was formed as a joke, so at least it’s not a Ponzi scheme. DOGE is based upon a meme and has no reason to have any value except that young people think it’s real and important. If you talk to most people in their 20s, DOGE is the only crypto they own because it’s all over social media.

Elon Musk might be brilliant at owning tech companies but he certainly isn’t an authority on investing in other people’s companies. He’s been talking and joking about DOGE lately but I recently learned that he has been working with the DOGE developers since 2019. Could that be more joking? Either way, I don’t trust people who get sued (repeatedly) for tweets that impact the price of their company’s stock (Tesla). Tesla stopped accepting BTC as payment for their cars. It will still keep its large BTC investment even though it burns a lot of electricity. Musk is accepting DOGE payment for his space X project but DOGE is also a proof of work coin that burns a lot of energy too…” – Van K. Tharp, PhD

Please let the fact above sink in.
I also quote Sir John Hargrave of Bitcoin Market Journal:

“What are you buying? You’re buying a joke currency that depreciates in value (10,000 new units of dogecoin minted every minute). It already has a higher market cap than Polkadot, Cardano, and Algorand, which are actual blockchain platforms where people build things. If it gets to $1.00, it will surpass Binance coin, which powers the largest crypto exchange in the world.

To me, it’s clear that Dogecoin is a bubble, fueled by the same kind of meme mania that has driven up GameStop stock. It’s not really an investment, it’s a gamble, and I hate gambling. So I wouldn’t touch Dogecoin with a 10-foot leash, simply because of the tokenomics…”

Dogecoin to collapse in 2022
Dogecoin is doomed to become worthless in the future, starting somewhere in 2022, and investors who don’t cash out by the end of this year will deeply regret it.

To hold coins for a long period of time, do not bet your sweat on tokens that serve no real purposes other people’s fantasies. It is better to stick to cryptocurrencies that have stood the test of time.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Dogecoin (DOGE) Pulls Back from $0.21 Low, Resumes Uptrend

Dogecoin (DOGE) Pulls Back from $0.21 Low, Resumes Uptrend

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bearish
Yesterday, Dogecoin fell to $0.21 low as bulls bought the dips. It appears DOGE price has reached bearish exhaustion. Since May 8, the altcoin has been in a downward move. In the initial breakdown, the coin dropped to $0.35 low. DOGE price corrected to $0.60 high before plunging to $0.21 low. Nonetheless, on May 9 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This Fibonacci retracement indicates that DOGE will fall and reverse at level 1.272 Fibonacci extension or level $0.31.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price has fallen to level 45 of the Relative Strength Index period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping upward indicating the uptrend

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGE price is in a downtrend. DOGE dropped to $0.44 low and corrected upward. The altcoin corrected twice at the $0.60 resistance before falling to the $0.21 low. On May 9 downtrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that DOGE will fall to level 1.618 Fibonacci extension or the low of $0.22.From the price action, Dogecoin has tested the 1.618 Fibonacci extension and has pulled back.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE is above the 40% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The moving averages are sloping horizontally indicating the sideways move. The crypto’s price is below the SMAs which suggests that the coin is in the bearish trend zone.

General Outlook for Dogecoin
DOGE/USD downtrend has reached bearish exhaustion. From the price action, Dogecoin has resumed upward move. The long tail above the $0.22 support indicates that there is strong buying pressure above the current support.

 

You can purchase crypto coins here: Buy Coins  

  

 Note:  Learn2.Trade 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Dogecoin (DOGE) Drops Sharply to $0.40 Low as Sellers Continue to Short On the Downside

Dogecoin (DOGE) Drops Sharply to $0.40 Low as Sellers Continue to Short On the Downside

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bullish
Dogecoin has been in a downtrend. The altcoin dropped sharply from a high of $0.739 to a low of $0.357. Presently, the coin is finding support above $0.350 support. The upward move will resume if the current support holds. Meanwhile, on May 8 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. This Fibonacci retracement indicates that DOGE will rise to level 2.0 Fibonacci extension or the high of $1.299.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price has fallen to level 51 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The crypto’s price is above the moving averages despite the recent downtrend. There is a possibility of upward movement.

DOGE/USD Medium-term bias: Bullish
On the 4 hour chart, the DOGE price is in an uptrend. It is currently facing rejection at level 0.70. Nevertheless, on May 5 uptrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 1.272 Fibonacci extension or the high of $0.77 and reverse. From the price action, DOGE/USD has reversed from the high of $0.730 and plunged to the low of $0.350.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE is below the 50% range of the daily stochastic. The coin is in a bearish momentum. The crypto’s price is below the SMAs which suggests that the coin may further decline on the downside. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for Dogecoin
DOGE price is falling to revisit the previous low at $0.350. According to the Fibonacci tool analysis, the market will decline to 1.618 Fibonacci extension or the low of $0.22. Presently, DOGE has fallen to $0.41 low.

You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Dogecoin (DOGE) Consolidates near $0.70 High, Further Upsides Are Likely

Dogecoin (DOGE) Consolidates near $0.70 High, Further Upsides Are Likely

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bullish
Today, the DOGE price is retracing after rallying to the high of $0.70. In the previous price action, the DOGE price was stalled below the $0.40 price level. After a downward correction, the altcoin further decline to $0.15 as bulls bought the dips. The coin has regained bullish momentum. Meanwhile, on April 16 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. This Fibonacci retracement indicates that DOGE will rise to level 2.0 Fibonacci extension or the high of $0.84.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price has risen to level 73 of the Relative Strength Index period 14. It indicates that the coin has reached the overbought region. The crypto’s price is above the moving averages which indicates that the coin will rise.

DOGE/USD Medium-term bias: Bullish
On the 4 hour chart, the DOGE price is in an uptrend. The coin is fluctuating below the $0.70 resistance. Meanwhile, on May 5 uptrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 1.272 Fibonacci extension and reverse. That is the coin will reach the high of $0.78 and reverse to $0.61 low.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE is above the 80% range of the daily stochastic. The coin is in a bullish momentum and the overbought region of the market. The coin has been in the overbought region since May 1. sellers may emerge. The 21-day and 50-day SMAs are sloping upward indicating the trend.

General Outlook for Dogecoin
DOGE price is now in an upward move. Further upsides are likely if the current resistance is breached. The crypto’s price is consolidating near the resistance zone for a possible upward move. The coin is retracing from the recent high.


You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Dogecoin (DOGE) Recovers Above $0.25 Support, Faces Resistance At $0.35 High

Dogecoin (DOGE) Recovers Above $0.25 Support, Faces Resistance At $0.35 High

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Ranging
DOGE price has managed to reach the high of $0.34 but it is fluctuating below the $0.35 high. The crypto has the prospect of rising on the upside as it is above the moving averages. In the previous price action, the altcoin was repelled twice on April 16 and 19 at the resistance zone of $0.45. This compelled DOGE to fall on the downside. On the upside, if the bulls can clear the $0.35 resistance level, the market will rise to retest the $0.40 and $0.45 resistance levels.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
The crypto’s price is attempting to break the resistance line of the descending channel. If price breaks and closes above the resistance line, it will signal the resumption of the uptrend. The crypto’s price is above the moving averages which suggests a possible rise in price. DOGE is at level 64 of the Relative Strength Index period 14. It indicates that the coin is approaching the overbought region.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGE price is rising but it is facing rejection at the $0.35 resistance zone. Meanwhile, on April 16 uptrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 1.618 Fibonacci extension. That is the high of $0.66. From the price action, the altcoin is struggling below the $0.35 resistance.

DOGE/USD -4 Hour Chart

4-hour Chart Indicators Reading
DOGE is above the 40% range of the daily stochastic. The coin is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the previous trend.

General Outlook for Dogecoin
DOGE price is rising on the upside after recent retracement on the downside. The altcoin is falling after testing the $0.35 resistance level. DOGE will continue the upside momentum if the bulls defend the $0.30 support level. Otherwise, the downtrend will resume.


You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Dogecoin (DOGE) Faces Strong Selling Pressure At $0.45 High, Resumes Downtrend

Dogecoin (DOGE) Faces Strong Selling Pressure At $0.45 High, Resumes Downtrend

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bearish
Dogecoin is in a downward move after the bulls fail to push above the $0.45 resistance zone. In the first uptrend of April 16, the crypto was resisted and the coin fell to $0.24 low. The price corrected upward and retested the $0.45 resistance zone. The crypto fell and broke the bullish trend line. As the trend line is broken, it is presumed that the previous trend is likely to be terminated. However, the selling pressure is likely to continue.

DOGE/USD – 3 Hour Chart

Daily Chart Indicators Reading:
DOGE price has fallen to level 63 of the Relative Strength Index period 14. It indicates that the coin is still in the uptrend zone above the centerline 50. The 50-day and 21-day SMAs are sloping upward indicating the uptrend. The DOGE price has broken the bullish trend line and there is the tendency of further selling pressure.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGE price is trading below the resistance at $0.42. The crypto is facing resistance and it is on a downward move. On April 20 downtrend, a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that DOGE will fall to level 1.618 Fibonacci extension. That is the low of $0.167.

4-hour Chart Indicators Reading
DOGE is below the 40% range of the daily stochastic. The coin is in a bearish momentum and the stochastic bands are sloping horizontally. The 21-day and 50-day SMAs are sloping upward indicating the previous trend.

General Outlook for Dogecoin
DOGE price is presently in a downward move as the buyers were repelled at the $0.45 resistance zone. The price has broken below the 21-day and the 50-day SMA which suggests a further downward movement of price.


You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade 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



  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.