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From late August up until October 25, Dogecoin had an almost perfectly flat market. The price action blends almost perfectly with the two moving averages. This portrays the high level of indecision in the market. The price began to move to the upside on October 26 and the momentum increased as the day go by. The bullish price continues to face rejection at $0.1500 from October 29 and then it was finally rejected on November 6. The bulls are still able to retain 46% of the bullish price as they find their support at $0.0746.
Dogecoin Market Price Statistic:
- DOGE/USD price now: $0.09
- DOGE/USD market cap: $11,577,004,929
- DOGE/USD circulating supply: 132.67B
- DOGE/USD total supply: 132,670,764,300
- DOGE/USD coin market ranking: #8
Key Levels
- Resistance: $0.100, $0.120, $0.140
- Support: $0.0700, $0.0600, $0.050
Dogecoin Market Price Analysis: The Indicators’ Point of View
After the explosive band performance of the Bollinger indicator, it looks like the market is settling for another consolidation period, but this time the market has higher support. The bearish resistance seems very strong at $0.09. And the price remains pegged at that point. To confirm this sentiment, the RSI line continues to range at the midpoint of the indicator.
DOGE/USD 4-Hour Chart Outlook
From the 4-hour chart, we can see the upper and lower band of the indicator are converging as the price enters consolidation. The price channel created by the Bollinger indicator becomes narrow and the two moving averages and the price action merge. And by the look of things, the market is not ready for a bullish breakout yet as the bullish price gets rejected in the third session.
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