Dogecoin Slows Down As Bearish Sign Appears; Here Are Levels To Watch
2022年11月3日 - 01:00AM
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DOGE’s price slowed down after showing so much strength as it
rallied to a high of $0.15. DOGE could suffer
retracement as bearish divergence appears in the four-hourly (4H)
timeframe, with the price suffering little retracement.
DOGE’s price remains strong on the daily timeframes as the price
trades above the 50 and 200 Exponential Moving Averages (EMA). The
price of Dogecoin (DOGE) displayed an incredible price action as
the price rallied from a low of $0.055 to a high of $0.15, with
many becoming euphoric. The crypto market has enjoyed a little bit
of relief bounce across all most assets, with Bitcoin (BTC) and
Ethereum (ETH) leading the charge as most crypto assets, including
Dogecoin (DOGE), produced over 150% gains in less than 7 days. With
uncertainty in the crypto market creeping in, DOGE could suffer a
retracement as a bearish sign emerges. (Data from Binance) Related
Reading: VeChain Notches 10% Weekly Gains – Time For Investors To
Bet On VET? Dogecoin (DOGE) Price Analysis On The Weekly Chart The
crypto market is looking increasingly welcoming as many altcoins
continue producing over 150% gains over the past 7 days of breaking
out of its range-bound movement. The likes of DOGE have seen some
great runs rally. The past weeks were tough for the crypto space,
with many altcoins struggling to hold up their key support areas.
After enjoying so many rallies in previous weeks, the week looks
more mixed. After its weekly close of above $0.12, the price
of DOGE rallied to a high of $0.15; the price faced a minor
rejection to break higher to a region of $0.15, thereby trending
higher in its price. The price of DOGE has maintained its
bullish structure above the $0.12 region as the price of DOGE could
suffer a retracement to a region of $0.1 and even lower if this
region is lost. Weekly resistance for the price of DOGE – $0.15.
Weekly support for the price of DOGE – $0.1. Price Analysis Of DOGE
On The Daily (1D) Chart In the daily timeframe, the price of DOGE
continued to look strong as the price held above its range channel,
forming strong support to hold off the price from sellers. DOGE
currently trades at $0.13, just above its key support formed at
$0.095 on the daily timeframe after a successful breakout from a
range channel with good volume as the price rallied to a high of
$0.15, where it got rejected from trending higher. The price
of DOGE has formed a bearish divergence on the 4H timeframe
suggesting more retracement could be in the pipeline as the price
could retrace to a region of $0.1-$0.095. If these levels are lost,
we could see the price drop to a region of $0.07-$0.055.
Daily resistance for the DOGE price – $0.15. Daily support for the
DOGE price – $0.09-$0.055. Related Reading: Shiba Inu Spurts Over
12% In 24 Hours – Just For The Day Or Will SHIB Soar This Week?
Featured Image From zipmex, Charts From Tradingview
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