- On the downside, if the bearish trend continues, the market will fall and reach the low at $0.0028 price level.
- On May 30 the bullish gains were erased by the bears as the price fell to the bearish trend zone.
DOGE/USD Medium-term Trend: Bearish
- Resistance Levels: $0.004000, $0.004500, $0.005000
- Support levels: $0.003100, $0.003000, $0.002900
Yesterday, May 30, the price of DOGE was in a bullish trend. The DOGE market was characterized by a sideways trend. The 12-day EMA and the 26-day EMA were trending horizontally in the last two weeks. Since on May 16, the DOGE market had been trading between the levels of $0.0028 and $0.0032.
Yesterday, the bulls traded and reached the $0.0036 price level but were resisted. The market had a downward correction and price fell into the range bound zone of $0.0028 and $0.0032 price levels. On the downside, if the bearish trend continues, the market will fall and reach the low at $0.0028 price level. On the other hand, if the bearish trend has been exhausted, the crypto’s price might continue its range bound move for some days. The MACD line and the signal line are above the zero line which indicates a buy signal.
DOGE/USD Short-term Trend: Ranging
On the 1-hour chart, the price of DOGE was in a sideways trend zone. Since on May 26, the 12-day EMA and the 26-day EMA are trending horizontally. The crypto’s price had been trading in a tight range between the levels of $0.0030 and $0.0032.
On May 30, the bullish gains were erased by the bears as the price fell to the bearish trend zone. The crypto’s price is trading within the range bound zone. Meanwhile, the crypto’s price is below the EMAs which indicates that price is likely to fall.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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