Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Cryptoknowmics 2022-06-28 10:32:58

DOGE Technical Analysis: The End Of The Downward Trend Has Begun

The month of June was not entirely successful for investors of the DOGE cryptocurrency. The advantage that buyers kept at the end of May was lost. This is a range of $0.08. In the past, this range was a historical high. In February 2021, buyers stopped their aggressive growth wave for a few weeks just after the DOGE price met the $0.08 mark. Moving back to the present, we see that 4 weeks of weak but constant pressure from sellers was enough to take control of this range. Now buyers are in a difficult situation. Yes, the DOGE price again tested the bottom of the fall channel and began a rebound. However, whether the future of this rebound is above $0.08 is still unclear. Source: https://www.tradingview.com/x/uN3IM4br/ The weekly chart shows us that the first meeting of the DOGE price with a mark of $0.08 took place in favor of sellers. If the purchase does not change the situation by the end of the week and the DOGE price closes below the critical mark, we will expect a re-test of the $0.053 mark. It is after the test of this mark that buyers can gain new strength to break the mark of $0.08 and the test of $0.11. DOGE Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/DWQNqCsD/ Analyzing the movement of the DOGE price on the daily timeframe, several contradictions can be found. On the one hand, the price rebound after the aggressive fall wave on 10 June is quite uncertain. The price of tiny candles...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.