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Friday, September 24, 2021

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Dangerous Dogecoin Range Promises Volatility




DOGE / USD has fallen in early trading this morning and its month-long range suggests additional short-term dynamic results will be seen.

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DOGE / USD has dropped below the $ 0.30 conjuncture in early trading today with a quick test of the $ 0.28 conjuncture. DOGE / USD has moved slightly higher, but is still near levels of medium important and speculators of the cryptocurrency they should expect additional price action in the short term. Surprisingly, while the cryptocurrency market in general has seen many of the major counterparts of Dogecoin approaching the highs seen during the exuberance “irrational” April and May in the last two weeks, DOGE / USD has not been able to reflect these results.

Yes, a high of almost $ 0.35 was reached on August 16, but those highs only challenged the values ​​seen on June 9. Dogecoin’s all-time highs of nearly $ 0.74 were seen in the first week of May and are starting to feel like a distant memory. DOGE / USD continues to be the eighth largest cryptocurrency in terms of market capitalization, but its price in the last two months seems somewhat off. DOGE / USD was near a low of $ 0.15 on July 20 and its current price is twice that, which is a gain very solid compared to its current value.

If the DOGE / USD price does not hold near the $ 0.28 conjuncture and a test of medium around $ 0.27, this could set off negative alarms within Dogecoin. If the $ 0.26 level begins to be challenged, this could mean a trend A rather sharp bearish could emerge again on Dogecoin. While the cryptocurrency market in general remains quite bullish, you have to pay attention to the almost lackluster results of the DOGE / USD.




Proponents of DOGE / USD, however, may feel that the graphics Current technicians are actually a buying opportunity. Although Dogecoin has not joined other major cryptocurrencies and is one step away from all-time highs, DOGE / USD has correlated well with the recent rise in values ​​and the doubling in price from July lows is a solid result. .

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Speculators may be tempted to look at current support levels as a buy signal if the levels prove long-lasting. DOGE / USD has always been an asset volatile and its rather rapid decline in early trading this morning after the $ 0.30 support level was broken, it could be abruptly forgotten if there is a reversal to the upside from the current price range being tested.

Dogecoin Short-Term Forecast:

  • Current Resistance: 0.3000000
  • Current Support: 0.26950000
  • High Target: 0.32080000
  • Low Target: 0.24480000

DOGE / USD Technical Analysis




TAMMY SEWELL
Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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