Dogecoin Returns to Its $0.060 Low as It Enters an Oversold Zone
Login

Dogecoin Returns to Its $0.060 Low as It Enters an Oversold Zone

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Dogecoin (DOGE) Price Long-term Prediction: Bullish
Dogecoin (DOGE) has slipped below the moving average lines as it enters an oversold zone. At the time of writing, the crypto asset has dropped to a low of $0.069. DOGE was caught between the moving average lines for over a week in the preceding price movement.

The buyer’s inability to sustain the price above the 21-day SMA led to the fall. Based on the price activity, DOGE is likely to fall more to the downside. DOGE corrected upward on the August 7 downturn, and a candle body tested the 50% Fibonacci retracement level.

As a result of the downturn, DOGE is anticipated to drop to the level 2.0 Fibonacci extension, or $0.062 low.

Dogecoin Returns to Its $0.060 Low as It Enters an Oversold Zone
DOGE/USD – Daily Chart

Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04

Dogecoin (DOGE) Indicator Reading
DOGE has dropped to Relative Strength Index level 38 for period 14. The altcoin is entering the market’s oversold zone. As price bars fall below the moving average lines, the decrease will be accelerated. Dogecoin is oversold below level 20 on the daily Stochastic. Bearish weariness has been reached for Dogecoin.

What is the next direction for Dogecoin (DOGE)?
Dogecoin has reached bearish exhaustion as it enters an oversold zone. In the previous price movement, the altcoin has been finding support above the $0.060 low. The current decline may end above the current support.

Dogecoin Returns to Its <img decoding=.060 Low as It Enters an Oversold Zone" width="580" height="323" data-lazy-src="https://learn2.trade/wp-content/uploads/2023/08/DOGEUSD_4-Hour-hart-AUG-.16-1024x570.png"/>
DOGE/USD – 4 Hour Chart

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

  • 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