DOGECOIN
Trade setup: Trading in a Sideways Channel ($0.13-$0.20). Wait for a breakout or trade the range (buy at support, sell at resistance). (set a price alert). Overall, remains in a Downtrend. Price briefly popped recently after an annoucement from Tesla that it would accept DOGE for merchandise payments. Price made a Higher High, which was an indication of trend reversal, but it was unable to hold above $0.15 and made a Lower Low instead of Higher Low.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish but inflecting. MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $0.13. The nearest Resistance Zone is $0.15 (previous support), then $0.20.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish but inflecting. MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $0.13. The nearest Resistance Zone is $0.15 (previous support), then $0.20.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.