May 16, 2022

DOGE Price Analysis: Yet Again, DOGE Fails to Break Major Resistance Zone, What’s Next?

2 min read


  • DOGE price stopped working to break major resistance zone of $0.27-$0.31 20 MA has actually held

DOGE rate down for nearly 30 days Major assistance of $0.193 currently holds price from further failure DOGE Price Overview Since the appearance of Elon Musk on Saturday Night Live (SNL), DOGE rate has been in a strong sag. The meme coin mania was terrific while it lasted in April-May however since then, the meme coins have been incredibly bearish. Many retail financiers FOMOed into Dogecoin above $0.40 which has actually left much of them holding their coins at a near -50% loss. A bullish breakout on BTC rate will likely trigger another run for DOGE.While looking at

the peach coming down channel, we can see bulls have constantly tried to break above the top pattern line however have actually stopped working whenever. A break above this leading pattern will split price from the 2 month sag that DOGE rate has fallen victim to. If this is deemed effective, price needs to break & hold the 20 Day MA which has held DOGE down for over a month. Price will then pull back as much as fight out major resistance of$0.239. DOGE Price Analysis: DOGE/USDT 1 Day Chart Live Chart If bears take more control, DOGE will likely free fall back to major assistance of$0.193 which is

currently being held. A break below this mark will send out DOGE back to mid teens around

its major assistance of $0.166. If this bearish situation happens, DOGE rate will then be trading around its mean line of its coming down channel. This area might offer enough strength to release DOGE back above$ 0.20. Read More: Elon Musk Sides With Dogecoin(DOGE ), Calls BTC & ETH Slow While looking at the Stochastic RSI, we can see the strength has simply visited the oversold zone. If strength continues throughout this zone, DOGE cost might experience additional disadvantage. The RSI has actually been fairly flat the last few months as it & has actually mirrored DOGE rate action

. A long term trend has been found which is the essential line for strength to break above to begin a new uptrend. DOGE cost intraday levels Spot rate:$0.21 Trend: Bearish Volatility: Low Assistance:$ 0.193 Resistance: $0.239 The post DOGE Price Analysis: Yet Again, DOGE Fails to Break Major Resistance Zone, What’s Next? appeared first on Coingape.