DOGEUSD Price Analysis – July 12
Dogecoin retreats after rising to the level at $0.00346 after the open. The cryptocurrency has managed to reverse gains early in the day’s activity, although it has failed to move beyond the prior’s days trading range in a lackluster activity.
Supply Levels: $0.0022, $0.0028, $0.0032
Demand Levels: $0.0050, $0.0043, $0.0037
DOGEUSD Long term Trend: Bullish
The bulls took control of the DOGEUSD earlier in the day’s trading activity after moving to fall to the level at $0.00299 past the supply zone on the level at $0.00399.
While the market is currently in a short downtrend, this could just be a correction as both the medium and long term trend is still bullish although it may go the other way.
DOGEUSD Short term Trend: Bullish
In the smaller picture, selling might speed up should price move below the supply zone the nearby swing low on the supply level at $0.00309 where further sell stops could get activated.
Further selling might move the price lower should the market test June’s low on the level at $0.00284, otherwise, the trend will turn bearish but in the present, it stays bullish.
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