As a seasoned crypto investor with a few years under my belt, I’ve learned to read charts and market trends carefully before making any moves. And based on what I see here, the DOGE/USD pair is showing some promising signs, but it’s not all roses.
Most of the coins are in the green zone, according to CoinMarketCap.
DOGE/USD
The price of DOGE has risen by almost 1% over the last 24 hours.
On the hourly chart, DOGE‘s hourly rate exhibits a bullish trend as it attempts to regain the nearby resistance of $0.1539. Should buyers succeed in this endeavor, a potential breakout could ensue, leading to a possible advance towards the $0.16 price region.
On the day-to-day chart, a more pessimistic outlook emerges as the rate falls short of significant benchmarks. Neither buyers nor sellers are eager to instigate a strong trend at this moment.
As a crypto investor, I believe the most plausible outcome for the coming days is that the price will continue to move sideways between the range of $0.15 and $0.16 until the end of the week.
On the weekly chart, the price is currently situated near the center of a significant price range. This range extends from the support level at $0.1225 to the resistance level at $0.1690. In summary, it’s likely that the price will continue to trade within this vicinity around $0.15 until the end of the month.
DOGE is trading at $0.1526 at press time.
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2024-05-17 19:25