Dogecoin Holds above $0.07 as Traders Struggle over the Market’s Direction.

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


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’s (DOGE) price is declining below the moving average lines as traders struggle over the market’s direction. As bulls bought the dips on December 19, the bears broke below the $0.07 support. The $0.08 level is proving to be a barrier for buyers as they try to maintain the price above the previous low. The previous support level of $0.07, which is now a resistance level, is currently being tested by the bullish momentum once more. The market will rise above the moving average lines and reach a high of $0.10 if buyers keep the price above the resistance level of $0.08. However, if Dogecoin is rejected at the $0.080 resistance level, selling pressure might increase once more. The price of DOGE/USD will sag to $0.05. At the time of writing, DOGE is currently trading at $0.077.

Dogecoin Holds above $0.07 as Traders Struggle over the Market’s Direction.
DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
According to period 14’s Relative Strength Index, Dogecoin is still trading at level 40. The cryptocurrency asset is probably going to keep falling as long as it is in the bearish trend zone. The position of the price bars below the moving average lines indicates further decline.

DOGE/USD Medium-term bias: Bearish
DOGE is declining on the 4-hour chart, but it is correcting upward. The price of the cryptocurrency has broken above the moving average lines. Doji Candlesticks are currently dominating the price action.

Dogecoin Holds above $0.07 as Traders Struggle over the Market’s Direction.
DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is in a bearish trend and has fallen below the daily stochastic level of 80. For a possible rise, the price bars are above the moving average lines. The sloping southward of the 50-day and 21-day SMA lines indicates a downtrend.

General Outlook for Dogecoin
The cryptocurrency asset has tested the $0.07 support level a third time as traders struggle over the market’s direction. A price war is currently raging between buyers and sellers over the market’s direction.

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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 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
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
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.