2019-1-23 17:14 |
Long-Term Outlook Dogecoin Weekly Chart – Source: Tradingview.com
A look at the Weekly chart for Dogecoin shows that price has fallen to the long-standing support area at $0.002, which coincides with the 200-period moving average.
Furthermore, the MACD is starting to turn and is getting ready to make a bullish cross.
However, the price is trading below and facing resistance from the 7, 21, 50 period moving averages and the Ichimoku Cloud.
If the support area and the 200-period MA breaks down, the next one is found at $0.001.
Medium-Term Outlook Dogecoin 3-Day Chart – Source: Tradingview.comA look at the 3-day chart paints a more positive picture.
Firstly, the price is facing close resistance and trading below the 7-period moving average.
However, there is significant bullish divergence developing in the RSI, and the MACD is going up but is not positive yet.
The first area of significant resistance is found at $0.0035
Dogecoin Daily Chart – Source: Tradingview.comA look at the Daily chart reinforces the findings of the 3-day chart.
There is a very significant amount of bullish divergence developing between the price and RSI, and the MACD is close to making a bullish cross and becoming positive.
Short-Term Outlook and Price Prediction Dogecoin 6-Hour Chart – Source: Tradingview.comA look at the 6-hour chart also shows that price has developed significant bullish divergence.
Furthermore, the MACD is close to turning positive.
However, the price is facing resistance from the solid red trendline.
Price prediction: I believe that price will break the resistance line during the next few days and make a run for the nearest high at $0.0028.
Conclusions: Price has fallen to the support area at $0.002. There is significant bullish divergence developing. The first area of significant resistance is at $0.0035. Latest Dogecoin News:Dogecoin Price Analysis: Value of Doge Remains in a Range
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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 Price Prediction: DOGE Is at the Lower Range of the Support Area, When Will It Start a Rally? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.
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