Chicago 12, Melborne City, USA

Dogecoin Falls As It Poises For A Further Decline

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20, $0.15

DOGE/USD Long-term Trend: Bearish
Dogecoin’s (DOGE) price is in a downward correction as it poises for a further decline. On June 26, the bulls broke the 21-day line SMA but failed to break the 50-day line. DOGE price is falling as bears attempt to break below the 21-day line SMA. On the downside, the coin will fall and revisit the previous low of $0.05, if the bears break below the 21-day line SMA. In the meantime, DOGE/USD is trading at $0.06 at the time of writing.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
Dogecoin is at level 45 of the Relative Strength Index for period 14. DOGE is in the downtrend zone and capable of further upward moves. DOGE price bars are below the moving averages indicating further price fall. The 21-day line SMA and the 50-day line SMA are sloping southward indicating the downtrend.

DOGE/USD Medium-term bias: Bullish
On the 4-hour chart, the DOGE price is declining to the downside after a rejection at the high of $0.07. The upward move was terminated as the market reached an overbought region.

  Dogecoin Falls As It Poises For A Further Decline
DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is below the 40% range of the daily stochastic. The altcoin is in a bearish momentum. The 21-day line and 50-day line moving averages are sloping upward indicating the uptrend.

General Outlook for Dogecoin
Dogecoin is in a downward move as it poises for a further decline. The coin will further decline if the bears break below the 21-day line SMA. Meanwhile, the coin is fluctuating between the moving averages

You can buy crypto coins here: Buy LBlock

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investment results

Share with other traders!

My name is Lawrence. I am one of the most famous forex trading schools. The purpose of creating this project is not only to give working advice on the Forex market, but also to warn beginners from fraudulent projects. Here we publish reviews of all Forex training scam projects, and professionally train those who have just decided to enter this niche.

    Leave feedback about this

    • Quality
    • Price
    • Service


    Add Field


    Add Field
    Choose Image
    Choose Video