DOGEUSD Price Analysis – June 21
In a volatile session, prices traded above the previous day’s high as well as below the prior day’s low, forming a bearish outside bar. Despite a strong opening, the cryptocurrency closed below the previous day’s open and close, forming a bearish engulfing candle.
Demand Level: $0.00419844, $0.00358165
Supply Level: $0.00284986, $0.00241210
DOGEUSD Long term trend: Bullish
Thursday’s trading range has been $0.000191 (5.89%), that’s far above the last trading month’s daily average range of $0.000109. Things look different on the weekly time frame, where the market’s trading range of the last week has been slightly below the market’s average weekly trading range.
The longer-term, daily volatility is currently slightly lower than usual for DOGEUSD and the pair closed back below the moving average at 0.003096. .The trend is bullish, showing an intact uptrend in the short, medium and long-term.
DOGEUSD Short term trend: Bullish
After having been unable to move lower than 0.003062 in the prior session, the market found buyers early. Selling might accelerate should prices move below the nearby swing low at 0.003010 where further sell stops could get activated.
As prices are trading close to June’s low at 0.002906, downside momentum might speed up should DOGEUSD mark new lows for the month again around the same price level today at 0.003053, in the short term the trend bias remains bullish.
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