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DOGE Price Analysis: DogeCoin is Strongly Sustaining Above 100-Day Moving Average

  • Dogecoin is looking strong over the monthly chart and performing well against the other crypto assets, holding above 200 and 100-DMA.
  • The coin easily maintains itself above vital moving averages of 100 and 200-DMA, but volume records a below-average line.
  • The pair of DOGE/BTC is trading on a positive note with intraday gains of +0.12% standing at 0.000008689 BTC; whereas, DOGE/ETH is trading flat at 0.0001316 ETH, up by +0.52%
Source:tradingview

DogeCoin is looking strong as the cryptocurrency has been sustaining above the 100-day moving average line for quite some time now, and there doesn’t seem to be any signs of doge slowing down anytime soon. DOGE is trading at $0.31 when writing this article, with a market cap of over $40,396,475,456 (according to coinmarketcap). This cryptocurrency will undoubtedly remain an exciting topic in the near future as more people start adopting it. If this trend continues, we could see a short-term bullish reversal to follow Bitcoin’s recent upward momentum. Support on the lower side is at $0.28 and $0.21; whereas, resistance on the higher side is $0.36 and $0.44. 

Dogecoin Looking Bullish Over Weekly Charts

Source:tradingview

Dogecoin’s weekly time frame is now trying to bounce back from a recent downtrend. Whereas DOGEUSD has been mostly range-bound for the past 24 hours, but this could change at any given moment as its price action is currently still volatile, with swings being magnified by market volatility stemming from bitcoin’s most recent rally. However, soon we can see a good positive or bullish momentum as the technical parameters highlight the same. 

Relative Strength Index (BULLISH): Dogecoin RSI is presently projecting positive or bullish signs of recovery, gradually heading towards the overbought region over the weekly chart. At the same time, trading at 38.96 levels.  

Moving Average Convergence Divergence (BULLISH): Currently projecting a mixed trend over the weekly chart. The MACD shows the buyer’s signal line (green) is now trying to overpower the seller’s line (red) and trying to create a bullish momentum. 

Support levels: $0.28 and $0.21

Resistance levels: $0.36 and $0.44.