Dogecoin (DOGEUSD ) Is Pulling Back at $0.078; Tamadoge (TAMA) Soars Towards North

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Updated: 16 August 2022

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The bulls’ momentum is decreasing in Dogecoin market

DOGEUSD Price Analysis – August 15

Further increase in the bulls’ momentum will make the Dogecoin to break above the resistance level of $0.085; above it are $0.085 and $0.092 resistance levels. Should the $0.078 resistance level holds, the price may reverse and face the support level at $0.072, further increase in the bears’ pressure may push down the price to $0.066 and $0.060.

DOGEUSD Market

Key levels:

Resistance levels: $0.078, $0.085, $0.092

Support levels: $0.072, $0.066, $0.060

DOGEUSD Long-term Trend: Bullish, Tamadoge (TAMA) Soars Towards North

DOGEUSD is bullish in the daily chart. Dogecoin reached the resistance level of $0.085 on June 01. The bears opposed further price increase; daily bearish candles formed and the price fall towards the support level towards of $0.060. The bears’ pressure fails and price bounces to retest the resistance level at $0.078. The price is trying to break up the resistance level at $0.085.

The fast Moving Average (9 periods) has crossed the slow Moving Average (21 periods EMA) upside and the price is trading above the two EMAs as a sign of bullish movement. Further increase in the bulls’ momentum will make the price to break above the resistance level of $0.085; above it are $0.085 and $0.092 resistance levels. Should the $0.078 resistance level holds, the price may reverse and face the support level at $0.072, further increase in the bears’ pressure may push down the price to $0.066 and $0.060. The relative strength index period 14 is at 62 levels bending down to indicate sell signal.

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DOGEUSD medium-term Trend: Bullish

DOGEUSD is bullish in the 4-hour chart. Dogecoin tested the resistance level of $0.085 on the August 14. A Pin bar candle pattern formed at the same level which connote the triggering of the bearish momentum. The price is decreasing towards the $0.075 price level.

Dogecoin is trading between the 21 periods EMA and 9 periods EMA and the two EMAs are fan apart to each other which indicates that bulls’ momentum decreases in the DOGE market. The relative strength index period 14 is at 57 levels and the signal lines pointing down exhibiting sell signal.

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