DOGEUSD(4Hr) : DOGE to expect a downward momentum
Market in the last 24hrs
In the last 24 hours, DOGEUSD appears to have accepted as a resistance line and has touched the middle Bollinger band. Trading volume in the last 24 hours has been high.
Today’s Trend analysis
DOGE is at a crucial juncture as it is currently touching the middle Bollinger band. Here if the price rejects the middle Bollinger band as a support line then we can expect the price to go to the next possible support line that is the bottom Bollinger band. There is a small chance that the price accepts the middle band as a support line then we can expect a reversal and the price start moving in a consolidated momentum.
Price volatility remained low at approximately 6.65%, with the day's range between $0.316 — $0.337.
Price at the time of publishing: $0.320
DOGE’s market cap: $42 Billion
However, the Indicator summary is giving a 'SELL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 8 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is giving a BUY signal.
Traded volume has remained high in the past 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
In the last 24 hours, DOGEUSD appears to have accepted as a resistance line and has touched the middle Bollinger band. Trading volume in the last 24 hours has been high.
Today’s Trend analysis
DOGE is at a crucial juncture as it is currently touching the middle Bollinger band. Here if the price rejects the middle Bollinger band as a support line then we can expect the price to go to the next possible support line that is the bottom Bollinger band. There is a small chance that the price accepts the middle band as a support line then we can expect a reversal and the price start moving in a consolidated momentum.
Price volatility remained low at approximately 6.65%, with the day's range between $0.316 — $0.337.
Price at the time of publishing: $0.320
DOGE’s market cap: $42 Billion
However, the Indicator summary is giving a 'SELL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 8 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is giving a BUY signal.
Traded volume has remained high in the past 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
----------------------------------------------------------------------------------------
Any feedback and suggestions would help in further improving the analysis!
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