A look at the Weekly chart for Dogecoin shows that the price has found support above the 200-period MA, inside the support area near $0.002.
Furthermore, it is trading below the 21 and 50-period moving average and the negative Ichimoku cloud.
There has been minimal price movement since December 2018.
The MACD has made a bullish cross and is moving upward with strength, but is not positive yet.
The RSI is at 41, indicating neither overbought nor oversold conditions.
A look at the 3-day chart shows that the price has been following a descending support line for the past 353 days.
Furthermore, we can see that there has been significant bullish divergence developing in the RSI.
Also, the MACD is moving upward with strength but is not positive yet.
The price is trading above the 21-period moving average but below the 50-period one and the Ichimoku cloud.
A look at the daily chart gives us the minor resistance areas near $0.0022 and $0.0029.
Furthermore, we can see that the price is struggling to break out of the negative Ichimoku cloud, which coincides with the first resistance area.
The Daily chart also gives us the first instance in which the MACD is positive.
Short-Term Outlook and Price Prediction
A look at the 6-hour chart shows that the price has been following an ascending support line for the past 36 days.
We can also see that the price is trading inside an ascending triangle, which is a bullish pattern.
Finally, the price has found support above the 21-period moving average and is also trading above the 50-period one.
I believe that during this week the price will finally break out of the triangle.
- Price is following a descending support line.
- There is medium-term bullish divergence developing.
- Price is trading inside an ascending triangle.
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Dogecoin Price Prediction: Will Volatility Return to Dogecoin [DOGE]? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.