Dogecoin (Doge) Is a Fluctuating Above $0.19, Further Selling Pressure Is Likely


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

DOGE/USD Long-term Trend: Bearish
After the upward correction, Dogecoin’s (DOGE) price faces rejection at $0.20 high. The altcoin is falling and attempting to break below the previous low at $0.19. A break below the previous low will accelerate the resumption of the downtrend. If the support at $0.19 holds, the uptrend will resume. In the previous price action, the crypto’s price has been consolidating between $0.19 and $0.21 in a tight range.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE /USD is at level 42 of the Relative Strength Index period 14. It indicates that the altcoin is in the downtrend zone and capable of falling on the downside. The 21-day and 50-day SMAs are sloping southward indicating the downtrend. Today’s price bars have broken above the 21-day SMA.

DOGE/USD Medium-term bias: Bearish
On 4 hour chart, the DOGE price has fallen to $0.19 low. A further downward move is possible if price breaks below the previous low. Meanwhile, on August 4 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOGE will fall but reverse at level 1.272 Fibonacci extensions or level $0.1867. From the price action, the DOGE price is attempting to break below the $0.19 support.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE/USD is above the 25% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The moving averages are sloping upward indicating the uptrend.

General Outlook for Dogecoin
DOGE/USD price is nearing bearish exhaustion. According to the Fibonacci tool, the market will decline to level 1.272 Fibonacci extensions or level $0.1867

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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • 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
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.