2018-12-28 14:39 |
Note: This is short-term Dogecoin price analysis. For my long-term Dogecoin price analysis please click here.
12-Hour Outlook Dogecoin [DOGE] 12-hour Chart – Source: Tradingview.comA look at the 12-hour chart for Dogecoin shows that price sprang from the support at $0.0017 and had a quick rally up until $0.003.Price did so in significantly high volume.
However, the RSI quickly turned to overbought (>70), and the MACD is falling with constant volume, almost going below 0.
6-Hour Outlook Dogecoin [DOGE] 6-Hour Chart – Source: Tradingview.comA look at the 6-hour chart shows that the 7 and 21 period moving averages are making a bearish cross.However, while the MACD is falling, it is doing so in increasingly lower volume, as evidenced by the solid yellow line.
Furthermore, the Chaikin Oscillator is moving above 0, a bullish sign.
2-Hour Outlook Dogecoin [DOGE] 2-Hour Chart – Source: Tradingview.comA look at the 2-hour chart shows that while the price has been decreasing, it has been creating significant bullish divergence with the MACD.However, there is no divergence with the RSI yet.
30-Minute Outlook Dogecoin [DOGE] 30-Minute Chart – Source: Tradingview.comA look at the 30-minute chart shows that price has been moving in a down trending channel for the past 10 days.There has not been significant volume, it neither increases nor decreases, and both the resistance and support lines have held strong.
Conclusions: Short-Term support is at $0.0017. Price is moving in a downward channel. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.Dogecoin [DOGE]: Price Is Moving in a Short-Term Downward Channel was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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