- On April 4, DOGE market reached the $0.004000 overhead resistance level.
- The crypto’s price is trading between the levels of $0.0028500 and $0.0031500.
DOGE/USD Medium-term Trend: Ranging
- Resistance Levels: $0.003500, $0.004000, $0.005000
- Support levels: $0.002500, $0.002000, $0.001500
Yesterday, June 6, the price of DOGE was in a sideways trend. On April 4, DOGE market reached the $0.004000 overhead resistance level. However, on April 5, the bulls were resisted and the market fell in a downward correction. The market fell to the support of the 26-day EMA and commenced a range bound move below and above the sloping moving averages.
The 12-day EMA and the 26-day EMA were flattening indicating that the price was in a range bound move. However, on May 15 and 31, the bulls attempted to break the $0.004000 overhead resistance level but were resisted at the $0.003500 price level. On June 1, the bulls were resisted as the market continues its downward correction. 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. The crypto’s price is trading between the levels of $0.0028500 and $0.0031500. The 12-day EMA and the 26-day EMA are sloping horizontally indicating a sideways trend.
The DOGE price is still in choppy price action. The resistance and the support levels of the price are not discernible for trade analysis. Meanwhile, the MACD line and the signal line are above the zeroline which indicates a buy signal.
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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