Cryptoknowmics
2022-06-27 09:05:12

DOGE Technical Analysis: Dogecoin Soon To Reclaim $0.10 Pillar

DOGE price rises higher, forming a rounding bottom reversal pattern and preparing a bullish breakout to reach the $0.10 mark. Key technical points: The DOGE market price has appreciated 13.14% over the past 24 hours. The price action shows a rounding bottom pattern breakout. The 24-hour trading volume of Dogecoin is $1.17 Billion, indicating a hike of 190%. Past Performance of DOGE DOGE price action showcases a rounding bottom reversal with the buyers overtaking control near the psychological mark of $0.050. The double bottom pattern breakout at $0.050 propels the market value higher by 45% over the past week. Source- Tradingview DOGE Technical Analysis The DOGE price jump surpasses the neckline of the rounding bottom pattern at $0.075, with the 5.34% bullish candle forming today. Hence, the candle closing above the neckline will make the bullish breakout official, increasing the likelihood of an uptrend continuation. The DMI indicator shows a bullish trend reversal as the crossover puts the DI lines back in the positive alignment. Moreover, the ADX line takes a sideways turn displaying a lost bearish momentum and a fresh start of bullish trend momentum. The RSI indicator shows a phenomenal increase in the underlying bullishness as the slope surpasses the halfway line. Moreover, the 14-day SMA mimics the RSI and takes a bullish turnaround from the oversold boundary. The MACD indicator shows a positive trend in the fast and slo...

Get Crypto Newsletter
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.