menu
techminis

A naukri.com initiative

google-web-stories
source image

TronWeekly

4w

read

310

img
dot

Image Credit: TronWeekly

Dogecoin Battles Resistance, Powerful Breakout Toward $0.20 Gains Momentum

  • Dogecoin is currently trading at $0.1743 with a volume of $1.31 billion and a market cap of $26.09 billion, indicating market caution.
  • The RSI reading of 43.17 suggests limited bullish strength and ongoing consolidation.
  • Flat MACD and low volume demonstrate indecision and lack of a strong trend confirmation.
  • After briefly hitting above $0.20 last week, Dogecoin faced bearish pressure and is currently consolidating between $0.170 and $0.180.
  • Resistance near $0.1764 is challenging Dogecoin on the 4-hour chart, with the price sticking close to the lower Bollinger Band.
  • The RSI below 50 indicates a slightly bearish mood, while the MACD and histogram suggest a lack of strength from both sides.
  • Declining trader interest and low volume suggest a consolidative market, with Dogecoin likely to remain in a narrow range until a breakout occurs.
  • Traders are awaiting clear signals such as a volume spike or significant RSI breakout before entering new positions, keeping the market bias mildly bearish.
  • Dogecoin remains in a sideways consolidation phase.

Read Full Article

like

18 Likes

For uninterrupted reading, download the app