⇦ $DOGE Coin Analysis on the hourly frame:
1. Current price level: $0.41263.
The price shows an increase of 2.43% over the past 24 hours.
2. Moving averages:
MA(7) (red): indicates a short-term trend, and is close to the current price (0.41341).
MA(25) (blue): shows a medium-term trend, and is also close to the current price (0.41363).
MA(99) (yellow): reflects a long-term trend, and the current price is below it (0.41885), indicating a potential resistance at this level.
3. Relative Strength Index (RSI):
RSI(6): Its value is 47.19, which indicates that the price is not in the overbought (>70) or oversold (<span areas, so the movement is currently balanced.
4. MACD Indicator:
The fast line (DIF) is above the slow line (DEA), but the difference is small, indicating signs of weakness in the uptrend.
5. Trading Volumes:
Volumes appear to be relatively increasing, which is a positive sign if the trend continues.
Recommendation♥:
If the price breaks the resistance level at 0.41885 (MA(99)) with high trading volumes, it may indicate the continuation of the uptrend.
If the price fails to break the resistance or falls below the support at 0.40152, we may see a correction to the downside.
