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

22 April 2021 | Updated: 22 April 2021

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.


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Dogecoin (DOGE) Rebounds above Level $0.08, Set For More Upside Momentum

15 April 2021 | Updated: 15 April 2021

Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Bullish
DOGE price has resumed upward move after buyers broke the resistance line of the horizontal channel. The altcoin has rallied to $0.144 high. The RSI has indicated that the coin has reached the overbought region of the market. Therefore further upward move is doubtful.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price has risen to level 85 of the Relative Strength Index period 14. It indicates that the market has reached the overbought region. That is further upside momentum is unlikely. The 50-day and 21-day SMAs are sloping upward indicating the uptrend.

DOGE/USD Medium-term bias: Bullish
On the 4 hour chart, DOGE has resumed an upward move after price rebounded above level $0.072 support. The uptrend is facing resistance at level $0.144.Meanwhile, on April 14 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 $0.19.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE is below the 80% range of the daily stochastic. However, the stochastic bands are sloping upward indicating an upward move. The coin has a bullish crossover, that is, the 21-day SMA crossing over the 50-day SMA. This indicates a bullish signal. The 21-day and 50-day SMAs are sloping upward.

General Outlook for Dogecoin
DOGE price has rebounded from its sideways move. There is a possibility of more upside momentum if price breaks the resistance at $0.14. Presently, buyers are attempting to break the resistance at $0.14. According to the Fibonacci tool analysis, the market will rise to a level $0.19.


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Dogecoin (DOGE) Continues Fluctuations Between $0.050 and $0.070, Targets the $0.072 High

8 April 2021 | Updated: 8 April 2021

Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Ranging
DOGE price is presently rising in a confined range. The crypto’s price is fluctuating between $0.050 and $0.070. On March 31, the bulls attempted to break the $0.070 resistance but were repelled. On the upside, if the bulls break the resistance, the uptrend will resume. Otherwise, the range-bound movement will continue within the confined range.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price is at level 57 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone and capable of rising. The 50-day and 21-day SMAs are sloping horizontally indicating the range-bound movement.

DOGE/USD Medium-term bias: Ranging
On the 4 hour chart, the crypto price is fluctuating. DOGE price is facing rejection at the $0.066 resistance. The market will fall each time price tested the resistance. Meanwhile, on April 6 uptrend, a retraced candle body tested the 50 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 2.0 Fibonacci extension. That is the high of $0.072.

DOGE/USD -4 Hour Chart

4-hour Chart Indicators Reading
DOGE is above the 25% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The coin has a bullish crossover, that is, the 21-day SMA crossing over the 50-day SMA. This indicates a bullish signal. The 21-day and 50-day SMAs are sloping upward.

General Outlook for Dogecoin
DOGE price is still trading within a confined range. Buyers are pushing price to the resistance level. The market will resume an uptrend properly if the resistance level at $0.70 is breached. DOGE is trading at $0.061 at the time of writing.

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Dogecoin (DOGE) Struggles Below $0.055, Faces Another Rejection

1 April 2021 | Updated: 1 April 2021

Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Ranging
DOGE price is in a sideways trend. The crypto has been fluctuating between $0.040 and $0.060. DOGE price is characterized by small body candlesticks namely Doji and Spinning tops. These candlesticks indicate that buyers and sellers are undecided about the direction of the market. The crypto is consolidating in a range. The market is in a choppy price action. Dogecoin has not trended since February.

Daily Chart Indicators Reading:
DOGE price is at level 49 of the Relative Strength period 14. It indicates that there is a balance between supply and demand. The 50-day and 21-day SMAs are sloping horizontally indicating the sideways move.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the crypto is in a downward move. The crypto’s price corrected upward but it is facing resistance at a level of $0.055. The downward move is likely to continue. Meanwhile, on March 23 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 $0.048.

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 bullish momentum. The 21-day and 50-day SMAs are sloping downward.

General Outlook for Dogecoin
DOGE is in a downward move. The crypto’s price is facing rejection at $0.055. The coin upward move is doubtful above $0.055. The altcoin may decline after repeated rejection at the recent high. According to the Fibonacci tool, DOGE will decline to level 1.618 Fibonacci extension or at the low of $0.048.


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Dogecoin (DOGE) Faces Rejection at $0.060 Resistance, Plunges To $0.0512 Support

25 March 2021 | Updated: 25 March 2021

 Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Bearish
DOGE price has fallen to $0.0512 at the time of writing. The downtrend was caused by rejection at the $0.060 price level. In the previous price action, the coin has been trading below $0.064 overhead resistance. The bulls could not break the overhead resistance after two unsuccessful attempts. Today, the downtrend is likely to continue.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
The crypto’s price has broken the support line of the ascending channel. Similarly, the altcoin has fallen below the SMAs. All indicate that DOGE is likely to fall on the downside. DOGE is at level 43 of the Relative Strength Index period 14. It indicates that the coin is in the downtrend zone and below the centerline 50. The 50-day and 21-day SMAs are sloping horizontally indicating the sideways move.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the crypto is in a downward move. Recently, it retested the $0.056 high and resumed a downward move. Meanwhile, on March 23 downtrend, a retraced candle body tested the 32.8 % Fibonacci retracement level. The retracement indicates that DOGE will fall to level 2.618 Fibonacci extension . That is the low of $0.0435.

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 bearish momentum. The SMAs are sloping downward.

General Outlook for Dogecoin
DOGE is in a downtrend. The selling pressure is likely to continue as the crypto faces rejection at $0.056. The coin has fallen into the bearish trend and capable of a further downward move.

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Dogecoin (Doge) Fluctuates Between $0.050 and $0.060, May Resume Uptrend

18 March 2021 | Updated: 18 March 2021

Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Ranging
Today, the DOGE price is falling after reaching the high of $0.059. Generally, the altcoin is in a downward correction after the March 15 drawdown. The crypto fell to the low of $0.0550 and commenced range-bound movement. The coin is fluctuating between $0.055 and $0.060. DOGE will resume upward if the price breaks the $0.060 price level. Otherwise, the current fluctuation will persist.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE is at level 54 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone and above the centerline 50. The 50-day and 21-day SMAs are sloping horizontally indicating the sideways move.

DOGE/USD Medium-term bias: Ranging
On the 4 hour chart, the crypto is range-bound. The price is likely to move up if the resistance at $0.060 is breached. On March 8, 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 $0.072.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE is above the 60% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The SMAs are sloping upward.

General Outlook for Dogecoin
DOGE is still fluctuating between $0.050 and $0.060. The crypto is yet to trend. The altcoin is likely to trend if price breaks the upper price range. Buyers are struggling to break the resistance at $0.060.



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Elon Musk Calls on Coinbase to List Dogecoin on Its Platform

15 March 2021 | Updated: 15 March 2021

Tesla CEO Elon Musk called on Coinbase, America’s largest cryptocurrency exchange, to enable Dogecoin (DOGE) on its platform over the weekend.

The tech mogul’s call to Coinbase came as a response to a question asked by a Twitter user, which noted that:

“Hi Elon, I saw a report that Coinbase was used for the Tesla BTC purchase (nice entry btw). Do you think Coinbase should enable Dogecoin on their platform? It would enable many folks to easily access DOGE.”

Furthermore, Musk tweeted a series of tweets around DOGE over the weekend. One of these tweets was the CEO revealing his plans to get a Shiba Inu dog, the dog breed used as the mascot for the meme cryptocurrency.

While this particular tweet did not drive the price action of Dogecoin, it sparked a near 300% rally in the price of the Shiba Inu (SHIB) token.

Meanwhile, Musk also made a tweet about Bitcoin over the weekend, saying that “BTC (Bitcoin) is an anagram of TBC (The Boring Company) What a coincidence!”. The tweet did not have any effect on the price action of BTC.

That said, Musk’s frequent tweets and comments on Dogecoin and other coins have gotten many people in the cryptocurrency community rattled, most of who think that his tweets are causing significant damage to the natural fabric of the industry given the level of influence he wields.

DOGEUSD – 4-Hour Chart

Key DOGE Levels to Watch — March 15
Dogecoin has been on a steady climb since its fall to the $0.0400 area in late February. The cryptocurrency made another attempt at the $0.0650 resistance yesterday but got heavily resisted and has since fallen below the $0.0600 round figure, once again.

That said, we expect to see a rebound from the current price levels ($0.0560) to $0.0650, once again, and higher over the coming hours and days. However, a slip below the ascending trendline could rapidly open the door to $0.0500.

Meanwhile, our resistance levels are at $0.0600, $0.0650, and $0.0700, and our key support levels are at $0.0550, $0.0500, and $0.0450.

Total Market Capitalization: $1.70 trillion

Dogecoin Market Capitalization: $7.2 billion

Dogecoin Dominance: 0.4%

 

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Dogecoin (DOGE) Falls, May Resume Range-Bound Move Between $0.040 and $0.060

11 March 2021 | Updated: 11 March 2021

Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Ranging
DOGE has continued its range-bound move between $0.040 and $0.060. On March 8, the bulls broke the range-bound movement but the uptrend could not be sustained. The selling pressure pushed the price to the range-bound zone. Presently, DOGE is falling to the lower price range. The range-bound move is likely to continue for a few more days.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE is at level 53 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone and above the centerline 50. The 50-day and 21-day SMAs are sloping horizontally indicating the sideways move.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the crypto is falling. After the breakdown on March 9, the price corrected upward to retest the $0.058 high. On March 9 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOGE will fall to level 1.272 Fibonacci extension and reverse. That is the low of $0.0539.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE has risen above the 25% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The SMAs are sloping upward.

General Outlook for Dogecoin
DOGE is still fluctuating between $0.040 and $0.060. Recently, the bulls could not sustain the bullish momentum as price fell back into the range-bound zone. The market is falling but an upward move will resume if the price falls and finds support above $0.054.


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Dogecoin (DOGE) Fluctuates in a Range, Price Direction Uncertain

4 March 2021 | Updated: 4 March 2021

Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Ranging
DOGE price is range bound between $0.040 and $0.060. Since February 26, the market is characterized by small body candlesticks called Doji and Spinning tops. The candlesticks are describing that buyers and sellers have reached a period of indecision.

DOGE – Daily Chart

Daily Chart Indicators Reading:
DOGE is at level 50 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 50-day and 21-day SMAs are sloping horizontally indicating the sideways move.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the crypto is in a downward move. On March 3 downtrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOGE will fall to level 2.0 and reverse. From the price action, the market is reversing above the $0.050 support level.

DOGE – 1 Hour Chart

1-hour Chart Indicators Reading
DOGE has risen above the 25% range of the daily stochastic. It indicates that the coin is trading in the oversold region of the market. Buyers are emerging to push the coin upward to the previous highs. The SMAs are sloping upward.

General Outlook for Dogecoin
DOGE is presently consolidating above the $0.050 support. The coin is yet to trend as it is confined in a range. The cryptocurrency will trend when the price breaks above the $0.060 resistance.


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DOGE Struggles To Sustain Upside Bias Beyond the $0.050 Confluence Zone

24 February 2021 | Updated: 24 February 2021

DOGEUSD Price Analysis – February 24

The ‘Meme Coin’, Dogecoin (DOGE) price rebounded from the recent dip to $0.0408 in the prior day. Despite the recovery, DOGE is not out of the woods yet, especially with technical and on-chain barriers insight. At press time, DOGE is sitting at $0.0536 on the Binance exchange, the TradingView chart shows.

Key Levels
Resistance Levels: $0.0818, $0.0728, $0.0657
Support Levels: $0.0408, $0.0350, $0.0280
DOGEUSD Long term Trend: Ranging
Dogecoin is currently struggling to gather momentum in the $0.050 confluence region despite an uptick past the recent low around the $0.0408 level. A psychological level of support remains around $0.035 low level, but if that breaks with a daily candle close below, it will likely slump back to its previous low level of support around $0.028.

The DOGEUSD pair, however, can enjoy a period of bullish momentum, if it could target the $0.06 level of resistance before potentially looking towards $0.0728 and beyond. If DOGE suffers a breakdown in price below $0.50, it will likely suffer a worse fate as it would confirm a downtrend with lower highs and lower lows.
DOGEUSD Short term Trend: Ranging
The 4-hour chart shows DOGE trading within the confines of ascending trendline support. A recent bounce above the near-term horizontal barrier at $0.05 adds credence to the ranging outlook. However for the upside to gain traction, DOGEUSD bulls must hold above this critical level to avoid declines likely to push Dogecoin back to $0.04.

It’s important to note that a break under the ascending trendline support may renew the breakdown to $0.04. On the other hand, losses below the moving average 13 could trigger massive losses, perhaps strong enough to slice through the trendline’s lower edge and extend the bearish leg to $0.035.

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