Crypto Weekly
Subscribe
No Result
View All Result
Crypto Weekly
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Learn
    • Crypto 101
    • Crypto Wallets
    • Crypo Investing
  • Regulation
  • Advertise with us
  • Subscribe
No Result
View All Result
Crypto Weekly Magazine
No Result
View All Result
  • Home
  • News
  • Learn
  • Regulation
  • Advertise with us
  • Subscribe

Dogecoin Price Analysis: DOGE/USD set to break below $0.13355 soon

by
April 8, 2022
in Altcoins, News
0
Dogecoin Price Analysis: DOGE/USD set to break below $0.13355 soon

TL;DR Breakdown

Dogecoin price analysis appears to be bearish.The strongest resistance is present at $0.1626.The strongest support is present at $0.1355.

Dogecoin price analysis indicates that the market is entering a bearish trend, with significant potential for reversal action. On April 6, 2022, the DOGE/USD exchange rate fell dramatically after experiencing a substantial downturn, resulting in Dogecoin’s value crashing to $0.1480 on April 7. The price of Dogecoin has continued to fall since then and is currently trading at $0.1358 on April 8. The Dogecoin price analysis also points to a potential head and shoulders pattern forming on the DOGE/USD exchange rate, leading to further downside in the market if confirmed.

The strongest resistance for the Dogecoin market is present at the $0.1626 level, which is where the 100-day moving average is currently located. If the market breaks above this resistance, it could move towards the $0.1750 level. On the other hand, if the market fails to break above $0.1626, it is likely to fall towards the $0.1355 level, the next major market support.

DOGE/USD 4-hour price analysis: Recent updates

On the four-hour chart, we can see that the market has been in a downtrend since April 6, when it reached a high of $0.1737. Since then, the market has fallen by over 20%, with the current price trading at $0.1358 on April 8. The market appears to be forming a head and shoulders pattern, which is a bearish reversal pattern.

DOGE/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) for DOGE/USD is currently at 52.17, which indicates that the market is neither overbought nor oversold. However, the RSI is showing signs of bullish divergence, leading to a reversal in the market.

The Moving Average Convergence Divergence (MACD) for DOGE/USD is currently in the bearish zone. However, the MACD line is above the signal line, indicating that the market may be due for a reversal.

The Chaikin Money Flow (CMF) for DOGE/USD is currently in the bearish zone. This indicates that capital flows are out of the market, leading to further downside.

Dogecoin Price Analysis for 1-day: DOGE gains value

Dogecoin is currently trading below the 100-day moving average, which is a sign that the downtrend is likely to continue in the short term. The RSI indicator is also in oversold territory, which suggests that the market may be due for a short-term corrective rally.

DOGE/USD 1-day price chart source: TradingView

The market is expected to find support at the $0.1355 level, which is the next major support for the market. If the market breaks below this level, it could fall towards the $0.1250 level in the short term. On the other hand, if the market rallies from here, it could move back towards the $0.1626 level in the short term.

Dogecoin Price Analysis Conclusion

The Dogecoin price analysis appears to be bearish in the short term, with strong potential for a reversal. However, the market is currently in a period of consolidation, and it is difficult to predict which way the market will move. Traders should watch for breakouts above $0.1626 or below $0.1355 for further clues on the market direction.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Previous Post

Ripple price analysis: XRP on the up with $0.93 resistance to be tested again

Next Post

Water great idea! Bitcoin mining heats this swimming pool

Next Post
Water great idea! Bitcoin mining heats this swimming pool

Water great idea! Bitcoin mining heats this swimming pool

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Got a Story tip? Email Contact@cryptoweeklymag.com

CMC Coin

A marketing-focused coin w/ a unique set of tokenomics & incredible use cases! The official coin of Crypto Weekly Mag!
Learn More

News

Recent Posts
  • White hat hacker attempts to recover ‘millions’ in lost Bitcoin, finds only $105
  • Bitcoin may still see ‘wild’ weekend as BTC price avoids key $22K zone
  • Ripple price analysis: XRP price consolidates below $0.36, but bulls are optimistic
  • Albania: Crypto-derived income tax in 2023
  • Bitcoin price analysis: BTC slowly retests $21,500, ready to return lower?
  • Albania will charge tax rates for crypto transactions and technology-based mining
  • Binance Collaborates With Football Star Cristiano Ronaldo in a new NFT deal

Office

Crypto Weekly
71 – 75 Shelton Street
Covent Garden London, UK

Stay Connected

Facebook Twitter Instagram Telegram

© 2022 crypto weekly. All rights reserved

  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Learn
    • Crypto 101
    • Crypto Wallets
    • Crypo Investing
  • Regulation
  • Advertise with us
  • Subscribe
Translate »