Viewing the DOGE/USD market in different time frames portrays some confusion. This is because some time frame Portrays an attempt to reverse the trend to the upside. Also, some time frame reveals that price maintains its downtrend. Consequently, this necessitates a closer examination to be given to this market.
DOGEs Forecast Statistics Data:
Dogecoin’s current price: $0.00001168
Dogecoins market cap: $7.94 billion
DOGEs circulating supply: 132.67 billion
Dogecoin’s total supply: 132.67 billion
DOGEs Coinmarketcap ranking: #10
Key Price Marks:
Upper Limits: $0.0593, $0.0620, $0.0670
Lower Limits: $0.0550, $0.0520, $0.0490
DOGE Showing Signs of Price Upward Correction, TAMA Is Stealing the Show
Analysis of the DOGE/USD market using the daily time frame Portrays that buyers may initiate a price reversal. Furthermore, signs emanating from trading indicators appear positive as well. The last price candle on this chart forms bullish, just on top of long-term support of $0.0584. However, the EMA remains on top of the price action. Meanwhile, the RSI curves appear to be correcting to signify a price uptrend. Consequently, traders can expect the price to retrace the higher resistance of $0.0640 should buying pressure keeps mounting. Otherwise, Dogecoin’s price may retrace lower support.
DOGE Price Analysis: DOGE/USD Portrays Downtrend Continuation
The DOGE/USD 4-hour chart portrays further downside price correction, while the mentioned support stays unbroken. Furthermore, the current price level remains under the EMA curve. By implication, this positions price action for further possible downside movements.
Your capital is at risk
Additionally, the RSI curves are now touching at the tip after reaching the overbought zone. Consequently, this indicates that a downward correction will continue from here. At this point, the market appears confusing. Consequently, traders may have to exercise some caution before placing an entry as the price may proceed in either direction.
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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