As a seasoned crypto investor with several years of experience under my belt, I’ve learned to read charts and market trends with a critical eye. And based on the current DOGE/USD situation, I’m feeling a sense of unease.
Sellers are back in the game again, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has fallen by 4.65% over the last day.
According to the hourly chart’s analysis, the Dogecoin price shows a downtrend, hovering around the nearby support figure of $0.1625.
If the current circumstances remain unaltered by evening, it’s likely that a price surge towards the $0.16 region will ensue.
On a larger scale, a comparable image emerges. If the bar drops close to or beneath the intermediate support level of $0.1627, it’s probable that the decline will persist towards $0.1550.
Looking at the mid-term perspective, the weekly bar currently exhibits a bearish trend. Nevertheless, it is premature to make definitive predictions for the long term since we are approaching the candle’s closing days. However, should bulls fail to hold the $0.16 mark, there is a possibility of a decline towards the $0.15 range in the near future.
DOGE is trading at $0.1629 at press time.
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2024-05-28 18:38