Dogecoin Faces Selling Pressure as It Approaches the $0.09 High
Login

Dogecoin Faces Selling Pressure as It Approaches the $0.09 High

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Levels: $0.10, $0.12, $0.14
Key Support Levels: $0.08, $0.06,$0.04

DOGE/USD Long-term Trend: Bullish
Dogecoin’s (DOGE) price is currently trading in the bullish trend zone as it approaches the $0.09 high. Today’s buyers are putting the $0.09 resistance level to another test. Currently, the cost of DOGE oscillates between $0.08 and $0.09. The bottom line is that if the resistance at $0.09 is overcome, DOGE will increase to $0.11. However, the presence of Doji candlesticks hinders the upward movement. Selling pressure will pick up again if DOGE declines and breaks below the $0.08 support level on the downside. Dogecoin will fall and return to its previous low of $0.07 .

Dogecoin Faces Selling Pressure as It Approaches the $0.09 High
DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
At level 60 of the Relative Strength Index for period 14, DOGE is in the uptrend zone. Additionally, as long as the price bars are above the moving average lines, DOGE will increase. The altcoin has a bullish crossover. In other words, a buy signal is generated when the 21-day line SMA crosses above the 50-day line SMA. DOGE’s momentum is bearish and is below 80.

DOGE/USD Medium-term bias: Bullish
On the 4-hour chart, DOGE is in a bullish trend zone above the moving average lines. The upward movement is limited below the $0.09 resistance level. A higher price level is indicated by the long candlesticks’ wick, which shows selling pressure.

Dogecoin Faces Selling Pressure as It Approaches the $0.09 High
DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Below level 80 of the daily Stochastic level, DOGE is moving downward. The sideways slant of the moving average lines suggests a sideways trend. The altcoin will trend when the range-bound levels are broken.

General Outlook for Dogecoin
Dogecoin is trading in a constrained range as it approaches the $0.09 high. The resistance is being tested again by DOGE today at $0.09. When the range-bound levels are broken, the altcoin will trend.


You can purchase crypto coins here: Buy LBLOCK


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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News