DOGEUSD has not been able to break out of the support and resistance level where it found itself, thus the price has maintained a zigzag formation and a false break out attempt. Traders have to be on the standby mode for the price to choose a trend direction.
Supply levels: $0.033, $0.035, and $0.038
Demand levels: $0.027, $0.025, and $0.023
DOGEUSD Trends: Ranging
The coin has made attempts to break out from either side of the support and resistance channel where it found itself, but all attempts have been futile. The price is hovering within the price resistance level of $0.027 and $0.033. A break of any of these levels will bring in the needed price momentum. Hence, waiting for to happen will be a wise market approach.
The chart shows that the price is trailing in-between the 14 and 50 Exponential Moving Averages, and the signal line of the Stochastic Indicator is showing weak market momentum.
DOGEBTC Market Analysis
The currency has enjoyed a good bearish ride, so far. It was able the break a key resistance level, and forge ahead to create a new lower low price, the market is still holding tenaciously to the bearish trend.
The 4-Hours chart shows a fresh, bearish outlook on the Histogram bars of the MACD Indicator, also the 1 and 50 days Exponential Moving Averages are crossed for a bearish indication.
Please note: Dapplife.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.