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 in a downward correction as it poises to reclaim $0.12 high. Today, the altcoin is making an upward move to retest or break above the moving averages. Since February 28 rally and rejection, the cryptocurrency has been in a downward move as it broke below the crucial support at $0.12. Today, if the altcoin turns from the moving averages, it will further decline to the low of $0.10. Meanwhile, the crypto has continued its upward move.
Daily Chart Indicators Reading:
The recent upward move has pushed the altcoin to level 42 of the Relative Strength Index for period 14. The altcoin is in the downtrend zone and below the centerline 50. DOGE price is below the moving averages which makes it prone to fall. The 21-day line and 50-day line moving averages are pointing southward.
DOGE/USD Medium-term bias: Bullish
On the 3 – hour chart, the DOGE price has broken above the moving averages as the altcoin resumes upward. The upward move has reached the overbought region. Meanwhile, on March 16 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that DOGE will rise to level 2.618 Fibonacci extension or $0.1239.
3-hour Chart Indicators Reading
The altcoin is above the 70% range of the daily stochastic. It indicates that the market is in a bullish momentum. However, the market is approaching the overbought region.
General Outlook for Dogecoin
Dogecoin has resumed its upward move as it poises to reclaim $0.12 high. The altcoin will reclaim the $0.12 price level if the bulls break above the moving averages. Also, the bullish momentum is sustained above the moving averages.
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 result
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
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
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
