TA- Dogecoin DOGE Remains Bullish Despite Bearish Signs – Eyes $0.1
August 17 2022 - 1:58PM
NEWSBTC
The price of Dogecoin (DOGE) has continued to remain strong against
Tether (USDT) despite growing bearish market sentiment as other
crypto assets continue to decline in price. Bitcoin has shown
bearish signs after being rejected from $25,200, but the price of
DOGE has continued to trend higher with eyes set on the $0.1 mark.
Related Reading: Bitcoin And Ethereum Retrace Before Crypto
Sentiment Could Reach “Greed” Dogecoin (DOGE) Price Analysis On The
Weekly Chart From the chart, the price of DOGE saw a weekly low of
$0.052, which bounced from that area and rallied to a price of
$0.088 after showing no side of recovery in recent weeks.
DOGE’s weekly candle closed with a bullish sentiment with the new
week’s candle looking more bullish for the price of DOGE as it
rallies to as high as $0.088 before facing a minor retracement to
the area of $0.0812. The price has struggled to build more momentum
as it faces resistance at $0.88. If the price of DOGE on the weekly
chart continues with this structure, it could quickly revisit
$0.11 acting as a resistance for the price of DOGE. Weekly
resistance for the price of BTC – $0.88. Weekly support for the
price of BTC – $0.066. Price Analysis Of DOGE On The Daily (1D)
Chart The price of DOGE found strong support at $0.072 above the
asymmetric triangle after a successful breakout, with what seems to
be an area of interest on the daily chart. DOGE bounced from its
support and rallied to $0.088 where it was faced with resistance
and was rejected from that region. The price of DOGE has continued
to range after being rejected from the $0.088 mark, breaking out of
this resistance to the upside could mean a retest of the $0.1
area. At the point of writing, the price of DOGE is at
$0.082, above the 50 Exponential Moving Average (EMA) which
corresponds to $0.072. DOGE needs to hold above this support area
that corresponds with the 50 EMA, a break below this region could
send the price of DOGE to $0.06. The Relative Strength Index (RSI)
for the price of DOGE on the daily chart is above 70, Indicating
good buy bids. Daily (1D) resistance for DOGE price – $0.88. Daily
(1D) support for DOGE price – $0.076, $0.073. Price Analysis OF
DOGE On The Four-Hourly (4H) Chart The price of DOGE continues to
look bullish and holds above the 50 and 200 EMA prices that
correspond to $0.077 and $0.071. On the 4H timeframe, the 50 and
200 EMA are acting as support for the price of DOGE after breaking
out of the wedge and trending higher. If DOGE fails to hold these
support regions we could retest the region of $0.066 as the next
support area to hold the DOGE price. Four-Hourly (4H) resistance
for DOGE price – $0.088. Four-Hourly (4H) support for DOGE price –
$0.077, $0.071. Related Reading: Why Crypto Market Could See 65%
Drop, Expert Says Featured image from zipmex, Charts from
TradingView.com
TRON (COIN:TRXUSD)
Historical Stock Chart
From Aug 2024 to Sep 2024
TRON (COIN:TRXUSD)
Historical Stock Chart
From Sep 2023 to Sep 2024