Dogecoin (DOGE) Regains Momentum Above the Fibonacci Retracement Level 38.20

Azeez Mustapha


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The Dogecoin market has moved by roughly 13% today. This has returned the market to an upside track, following a sharp price decline that occurred in the previous session. Let’s further examine the signs emanating from trading indicators for more insights into this market.

DOGE Statistics:
Current Dogecoin Value: $0.1595
DOGE Market Cap: $23,614,569,784
Dogecoin Circulating Supply: 143,350,136,384
DOGE Total Supply: 143,350,136,384
Dogecoin CoinMarketCap Rank: 9

Key Price Levels:
Resistance: $0.1595, $0.1700, and $0.1800
Support: $0.1590, $0.1500, and $0.1400

Dogecoin (DOGE) Regains Momentum Above the Fibonacci Retracement Level 38.20DOGE Heads Back Upwards

It could be seen from the behavior of price action in the Dogecoin market that volatility is back. Consequently, this is helping the coin quickly react to the influence of market forces. The ongoing session has reacted with a moderate upside correction following the sharp decline perceived in the previous session. As a result, the market remains above the Fibonacci Retracement Level of 38.20 and above the middle limit of the Bollinger Bands.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator maintains its upward trend, but its recent bars are now pale green and their length is reducing above the equilibrium level. Nevertheless, tailwinds are still advantageous in this market.

Dogecoin (DOGE) Regains Momentum Above the Fibonacci Retracement Level 38.20

The Dogecoin Market Shows Resilience

In the DOGE 4-hour market, it could be seen that upside market forces are remaining dominant. The bulls have responded convincingly following the minimal dip that occurred in the previous session. The last price candle here is now about to break a technical price level at the $0.1600 mark. At the same time, the MACD indicator is showing signs of the growing weakness of headwinds.

This is displayed as the last bar of this indicator is now pale red. With the appearance of the corresponding price candle for the ongoing session, traders can still set their trades with crypto signals with targets just above the $0.1700 mark, as the market may progress in that direction.

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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.

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