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For some time now Dogecoin’s price hasn’t witnessed significant increase in value. Nevertheless, at this point from the look of things, traders in this market may just be in a state of Indecision even now. As it stands technical indicators in this market, aren’t portraying much optimism.
DOGE’s Forecast Statistics Data:
DOGE current price: $0.3401
DOGE’s market cap: $8.1 billion
DOGE circulating supply: 132.67 million
The total supply of DOGE: 132.67 billion
DOGE Coinmarketcap ranking: #10
Therefore it is important for us to further study this market, to determine how to best approach it. In this analysis, we will carefully consider the DOGE/USD and DOGE/BTC markets to draw useful trading opinions from it. The drawn opinion from this analysis may then be used by short-term traders and newly entering Longer term traders.
Major Price Marks:
Resistance Level: $0.0654, $0.0690, $0.0700
Support Level: $0.0624, $0.0600, $0.0570
Dogecoin Minimal Upward Reversal, Tamadoge to Jump Northwards
The most recent candle formation on the DOGE/USD daily chart is portraying that price may have commenced a upward reversal. We can see that price is bouncing off just before hitting the previous support of $0.0600. Also, the applied Bollinger indicator is contracting, which portrays that a price trend is coming up. Additionally, with the display on the RSI and the last candle on the chart, we can only anticipate. This is because the RSI is still indicating a downtrend. Therefore Traders here can lay an upward trend ambush on Dogecoin’s price action in this market. This can be done by placing a pending buy order near $0.0650.
Dogecoin Price Analysis: DOGE/BTC Appears to Have Commenced an Bullish Reversal
Things are looking a bit more lively in the DOGE/BTC market as the price seems to have progressed a bit more significantly upwards. The latest two candles on this chart formed as bullish candles, and with them, the price has moved significantly upwards. Furthermore, price movement appears to be aiming at breaking the resistance level of the center Bollinger line to the upside.
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Additionally, the Stochastic RSI has also corrected towards the highly bought area of the indicator. Although this Indicator is still very much in the oversold zone, should buyers stay in control longer, the price movement will gather enough upside momentum. Eventually, the price of Dogecoin against Bitcoin may rise to 0.000003500 soon. Therefore, traders can buy straight away or wait till the price breaks the center line of the Bollinger band upwards.
Tamadoge completed the seventh phase of the presale over a month after it kicked off. The TAMA token was priced at 1 USDT = 40 TAMA during this seventh phase. After the $13.25 million milestone was achieved, the token’s price appreciated to 1 USDT = 36.36 TAMA, which is now the eighth phase. The eighth phase will be completed soon if the demand continues piling up at the rate it has done over the past month. The next phase will be the ninth and final phase. The price will also be higher during this phase as 1 USDT = 33.33 TAMA tokens.
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