DOGE / USD will enter September with plentiful speculative questions for speculators after hitting highs in mid-August.
After starting the month of August still in sight above the lows created on July 20 that saw a depth of almost 16 cents, DOGE / USD has correlated well with the broad market of cryptocurrencies. On August 16, it peaked above the 35 cent level and since reaching this higher medium-term ratio that has not been seen since June 9, the DOGE / USD has dropped slightly in value.
However, the decline in value has not been extremely volatile for DOGE / USD and as the cryptocurrency prepares to enter September speculators now have a decision to make. The trend DOGE / USD has been positive since the last week of July and the recent price drop has not broken what could be considered a technical trend line. On August 26, a low of around 26 and a half cents was registered, but if conditions remain stable, the traders they can view recent results with a positive character.
DOGE / USD can certainly produce sudden spikes that destroy any notion of tactical considerations regarding technical endeavors. Its ability to create volatile percentage changes in value should always be considered when betting. Dogecoin it remains a magnet for social traders who collectively try to take action and cause affection. Influencers within DOGE / USD also remain a force that has the ability to cause quite extreme trading days. However, what is interesting about the August results for the DOGE / USD is that the cryptocurrency performed in a technically competent manner compared to its major counterparts.
There are no guarantees that quiet results will continue in DOGE / USD that mimics the broad cryptocurrency market. However, the demonstration of a high on Aug. 16 was closely aligned with the price action with the major counterparties. The recent price drop also fits the display of value ranges within the cryptocurrency market quite well. Although there has been a decline, the DOGE / USD remains within the upper limits of its price range in the medium term when a graphic three months. The question is where the balance is for Dogecoin. Obviously, the price of DOGE / USD has a rather poor rationality in terms of value “real”. It is a speculative asset with little utilitarian purpose, except as a means of obtaining Profits through betting.
Dogecoin Forecast for September:
The speculative price range for DOGE / USD is between 18 and 44 cents.
The DOGE / USD is currently trading near the 28 cent mark and the medium important is close to the 25 cent ratio. If the current value of DOGE / USD is able to hold and does not fall below the 26 cent ratio, the cryptocurrency is well positioned to once again challenge the high marks seen in mid-August. The 30 cent level could be crucial from a psychological point of view for some traders, but this could be a false flag, meaning that it could be used to attract traders before a sell event suddenly ignites.
Cautious traders might wait until the DOGE / USD trades above the 33 cent mark and shows that it can hold its value above it. If the 35 cent level is the target and DOGE / USD is achieving a strong dose of action of trading In a positive broad market, then Dogecoin could certainly hit highs of 40 cents and beyond.
However, if the 26 cent levels start to look vulnerable and the cryptocurrency market in general starts to decline, traders could not be blamed for believing that another bearish trend is about to occur. If the 25 cent mark is pierced, it could mean that the weaker values appear quickly. Having traded near the lows in early August, those values are unfortunately not a distant memory and if the headwinds reappear for the DOGE / USD, the 18 cent level is not that far off and could be retaken.