$DOGE In-depth Analysis, Let's Go!
Seeing that Dogecoin has been a bit sluggish recently, with the price sliding from a high of $0.48 to the current $0.3818, the decline is not small, reaching -5.29%.
Let's take a look at the trend:
The current price is $0.3818, several important EMA lines are pressing above the price, especially the EMA(99) line, which is at $0.4038, blocking the way like a big mountain. If the price wants to surge upward, this mountain must be properly climbed.
Now let's look at the technical indicators:
The MACD is hovering near the zero axis, showing a slight downward trend, indicating that Dogecoin's strength is gradually diminishing.
As for the RSI, all three time periods are below 50, indicating that Dogecoin currently lacks strength and has some downward momentum, but it's not completely out of steam yet.
Trading volume is also decreasing, indicating that both buyers and sellers are watching from the sidelines, with no one willing to make significant moves.
So if it wants to rise?
The bulls need to show real skill and push the price above the EMA(99) mountain, and the RSI must also exceed 50 to show signs of upward strength. The MACD needs to produce a golden cross, and trading volume must also keep up to confirm that the rise is real.
The targets for the rise are $0.4091, $0.45, and $0.48, especially $0.48, the previous high, breaking through it is not easy.
What if it continues to fall?
If it cannot hold $0.365, it could really be in trouble. If the RSI falls below 40, it indicates that the downward pressure is greater. If more people start selling and trading volume increases accordingly, the price might drop to $0.35, $0.3305, and $0.327.
Recently, I plan to set up an ambush for a potential coin that is ready to explode, doubling is quite simple. At the same time, I also plan to find some potential coins to hold until the end of the year, expecting a space of more than 10 times is not a problem, with limited spots! If you want to keep up, please like and leave a message.
