DOGE has become one of the most prominent digital currencies in the market.
Technical analysis on the weekly frame:
General trend: On the weekly time frame, it appears that DOGE has witnessed a significant increase in its value during the past period, as it rose by 100% in one week, indicating strong upward momentum.
Support and resistance levels:
Support: Analyses indicate that the current support level is located near $0.115.
Resistance: The currency faces resistance at the $0.143 level, which may form a barrier to further increases.
Technical indicators:
Relative Strength Index (RSI): The RSI shows signs of overbought conditions, which may indicate the possibility of a price correction in the future.
Moving averages: Trading the price above the major moving averages indicates the continuation of the upward momentum.
Future expectations: Continuing the upward momentum, DOGE may attempt to break through the current resistance level. If successful, we may witness further increases towards new levels. However, the possibility of price corrections should be taken into account, especially with signs of overbought conditions.
Conclusion: Doge is showing strong performance on a weekly chart with a noticeable upward momentum. Investors are advised to monitor the mentioned support and resistance levels and make their investment decisions, taking into account possible market volatility.