Dogecoin, TRON Price Analysis: June 24, 2021

Published June 24, 2021 | Updated June 24, 2021

Dogecoin, TRON Price Analysis: June 24, 2021

  • Dogecoin holds onto the gains accrued mid-after the dip to $0.16.
  • TRON sustains the uptrend aiming to close the day above $0.075.

Dogecoin recovered along with other crypto assets on Wednesday, accruing over 15% in gains. The upswing from the recent support at $0.16 regained the ground above $0.2 but could not make it past $0.25.

Bitcoin price topped out at $35,000 before retreating to $32,000, while Ethereum brushed shoulders with $2,000. The international money transfer token XRP rebounded from $0.52 but hit a barrier at $0.67, culminating in a correction to $0.62.

Dogecoin:-

Dogecoin is trading at $0.228 at the time of writing. The immediate downside seems to have been protected at $0.2, allowing bulls ample time to regain momentum. However, Dogecoin will need a slight push through the primary hurdle at $0.25, which may bolster the token toward $0.45.

The Moving Average Convergence Divergence (MACD) indicator is likely to present a bullish signal in the coming sessions. Note that this tool tracks the trend of an asset and measures its momentum. More buyers will be called into the market with the MACD line crossing above the signal line as speculation for higher levels soars.

DOGE/USD four-hour chart

DOGE/USD price chart
DOGE/USD price chart by Tradingview

TRON:-

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TRON price seems to have sustained the recovery from the drop to $0.045. A break above $0.05 triggered more buy orders, pulling TRX above $0.06.

At the time of writing, TRON trades at $0.064 amid the push by bulls to step above the 50 Simple Moving Average Resistance, currently at $0.07. A daily close above $0.075 is what TRON needs to jumpstart the recovery above $0.1.

TRX/USD four-hour chart

TRX/USD price chart
TRX/USD price chart by Tradingview

The MACD may also flip bullish in the coming sessions, strengthening the uptrend. Similarly, the RSI affirms the bullish outlook as it crosses above the midline.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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John Isige 1051 Articles
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