After DOGE has been able to sustain its bullishness for a significant length of time. The bulls went on a break to catch their breath. However, it appears as if the break has paid off, as bullishness is gradually setting into the market once more.
DOGE Forecast Statistics Data:
DOGE Current Price: $0.08160
DOGE’s Market Capitalization: $10.8 billion
DOGE’s Systemic Supply: 132.7 billion
DOGE’s Overall Supply: 132.7 billion
DOGE’s Coinmarketcap Position: #10
So, today we shall analyze this market, to understand possible moves that may occur. We’ll also look at trading decisions that could be taken in this market.
Major Levels:
Resistance: $0.08160, $0.08400, $0.08700
Support: $0.08610, $0.08350, $0.0895
Dogecoin Is Focusing Higher Levels, Tamadoge Rally Upside too
After DOGE/USD price action was rejected at the upper Bollinger band, Selling pressure has pushed the price of this crypto towards the center line of the Bolinger Indicator. Consequently, the aforementioned rejection has caused the crypto to fall by 8.1% in value to $0.0800 from around $0.08700. In addition, the appearance of the latest two bullish candles has assisted Dogecoin to regain 0.34% value on the upside.
In addition, the Stochastic RSI lines have crossed each other in the oversold area. This activity portrays the activities of buyers and the eventual formation of the bullish candles. Also, the direction of the SRSI lines at this point is sideways. Nevertheless, should buying pressure continues, the uptrend will increase in strength. And, as a result, this will cause the price candle to rise above the center line of the Bollinger indicator. Once this happens, the price may retrace lost levels. Trader may place an entry around $0.08200 and a stop at $0.08120.
Dogecoin Price Analysis: DOGE/BTC Downward Rebound Is Correcting Upwards
Upward correction in the DOGE/BTC market appears to be happening earlier than it did in DOGE/USD market. In this market, we can see that a downtrend occurred bullish candles have been interrupting the downtrend in this market. Furthermore, the latest candle on this chart was able to push the value back up from around 0.00000343 to 0.00000349.
Your capital is at risk.
The Stochastic RSI curves are about crossing each other at the oversold area. Also, with increasing buying pressure the lines will eventually cross each other. Consequently, this will indicate that the strength of the uptrend is increasing, and the price may reach higher. Else, should selling pressure mount from this point the current uptrend will reverse and value will fall yet again? At this point, we can anticipate the value retracing a higher resistance level near 0.00000360.
Tamadoge is also securing strategic listings on centralized and decentralized exchanges as part of its roadmap. The first listing has already been secured on LBank. LBank is a centralized exchange, and the Tamadoge team is optimistic that TAMA could be paired with ETH to support the projects rapid growth as it faces improved liquidity.
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- Presale Live Now – tamadoge.io
Source: https://insidebitcoins.com/news/dogecoin-recovering-upside-gain-tamadoge-focuses-on-breaking-higher-resistance