- DOGE Price has stayed flat the last 2 weeks
- Mid term trend is acting as resistance
- 200MA continues to act as rejection zone
Dogecoin (DOGE) Price Overview
Dogecoin price has shown a great struggle in reviving to previous levels traded in June. Bitcoin & Ethereum have successful broken many downtrends and important resistance marks along with many other coins. Unfortunately for DOGE investors, price seems to be fairly flat, lacking the much needed bull power to push back to previous levels. DOGE price has only revived around 22% off its low compared to an average of 50% seen on many other large cap coins.
While looking at the chart, we can see how DOGE has formed an ascending channel over the past 16 days. At the time of writing, DOGE price is inches away from breaking below the bottom trend of this channel.
If this occurs, we can expect DOGE price to fall to its next support of $0.186. This is a large support zone that should provide some type of bounce but in the case bears continue control, we can expect price to fall to the next major support of $0.166.
DOGE Price Analysis: DOGEUSDT LIVE 4 Hour Chart
The 200 MA shown in light blue, has acted as a resistance mark for nearly 80 days. This is a very important mark for DOGE price to clear as it would confirm a bull trend is in place for the first time in many months. Along with this MA lies a mid term trend line which has held price down for over a month. Breaking these two marks will likely send DOGE price to mid $0.20s.
- RSI: While looking at the RSI, we can see strength just broke a 3 week long uptrend. This is a bearish scenario that may call for further short term downside.
- MACD: The MACD has also just broke below the 0 value, into bearish territory.
DOGE Intraday Analysis
- Spot rate: $0.195
- Trend: Neutral
- Volatility: Low
- Support: $0.186
- Resistance: $0.212