DogeCoin Price Analysis: DOGE Recovering Back Know Some Interesting Levels

• DogeCoin Price after getting rejected from the consolidation phase again went into the range-bound area and is now recovering above the range.
• The crypto asset has fallen below 20, 50, 100 and 200-days Daily Moving Average.
• The pair of DOGE/BTC is at 0.000002913 BTC with an intraday drop of 0.92%.

DogeCoin price is trading towards the upper range as it has been consolidating after getting rejected from the upper range. DOGE coin price must accumulate more buyers in order to gain towards the upper trendline. The crypto asset is still below 20, 50, 100 and 200-days Daily Moving Average. DOGE needs to recover towards the 20 EMA and then should aim for other remaining bullish hurdles of 50, 100 and 200-days Daily Moving Average. DOGE coin bulls are trying to accumulate themselves to let the toke surge towards the upper range. 

DogeCoin price is presently CMP at $0.060 and has gained 4.55% of its market capitalization in the last 24-hour period. However, trading volume has decreased by 30% in the intraday trading session. This shows that bears are trying to pull the token back and DOGE may fall back inside the range. Volume to market cap ratio is 0.09214.

DOGE coin price is trying to sustain at the higher level as it is gaining over the daily price chart. The token must attract more buyers in order to sustain at the current level. However, volume change is below average and needs to grow for DOGE to surge upwards. Volume also showcases that bears are trying to accumulate themselves to pull DOGE back. 

Support at the lower end is at $0.04 and resistance on the higher side is at $0.063. These are the levels from the range in which DOGE coin got stuck after falling over the daily price chart.

DOGE Bulls vs Bears Game is on

DOGE coin price must attract more buyers in order to sustain at the current level. As the token is trading at the upper trendline and is preparing for its breakout. However, volume shows that sellers are distinct to pull DOGE back. Technical indicators suggest the consolidation phase inside the range-bound area. Relative Strength Index showcases the consolidation phase of DOGE. RSI is at 38 and is  below neutrality it must head towards neutrality to register its breakout. MACD exhibits the uptrend momentum of DOGE coin. The MACD line is heading towards the signal line and is about to cross it upwards resulting in a positive crossover.

Conclusion

DogeCoin price is trading towards the upper range as it has been consolidating after getting rejected from the upper range. DOGE coin price must accumulate more buyers in order to gain towards the upper trendline. The crypto asset is still below 20, 50, 100 and 200-days Daily Moving Average. The token must attract more buyers in order to sustain at the current level. Technical indicators suggest the consolidation phase inside the range-bound area.  RSI is at 38 and is  below neutrality it must head towards neutrality to register its breakout. 

Technical Levels

Support Levels: $0.04 

Resistance Levels: $0.063

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.