Dogecoin is gaining momentum and is in midst of a good rally from the lower levls.
In this article, we will discuss dogecoin price analysis along with weekly analysis and news roundup.
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Dogecoin Price Analysis
- Price: $0.126
- Market Cap: $18.29 billion
- 24h Trading Volume: $1.09 billion
- Circulating Supply: 145.18 billion DOGE
Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher.
Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order.
Weekly Price Analysis
- Weekly Low: $0.119
- Weekly High: $0.128
- Weekly Change: +3.21%
- Trend: Short-term trend is Neutral, Medium-term trend is Strong Down and Long-term trend is Strong Down.
- Momentum is Bullish ( MACD Line crossed above MACD Signal Line) ABOVE days ago. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
- Support and Resistance: Nearest Support Zone is $0.10, then $0.075. Nearest Resistance Zone is $0.126, then $0.17.
News Roundup
- Dogecoin Whale Purchases: A significant Dogecoin whale purchased 90 million DOGE, indicating strong confidence in the coin’s long-term potential.
- Market Sentiment: Mixed with a slight positive trend. The Fear and Greed Index is at 48, indicating a neutral sentiment.
Indicators
- RSI (Relative Strength Index): 52 (neutral)
- MACD (Moving Average Convergence Divergence): Signal line slightly above the MACD line, indicating potential bullish momentum.
- Bollinger Bands: Price is near the upper band, suggesting possible overbought conditions.
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