Read full article at Coingape.

DogeCoinDogeCoin

  • DOGE price rises nearly 30% on the B Word Conference day
  • DOGE Price has broken free of 80 day descending channel
  • 50 MA is acting as support

DOGE Price Today- The B Word Conference

DOGE has finally shown signs of strength for the first time in nearly a month mostly due to Elon’s remarks at B Word Conference. Along with the majority of the cryptocurrency market, DOGE has been stuck in a strong downtrend the last 30 days. BTC sweeping below 30K allowed for the crypto market to have a strong bounce off lows. Elon Musk also was featured on a Bitcoin livestream today which he spoke generally positive. Signs show DOGE may be finally starting an uptrend.

Dogecoin managed to fully break the top trend of its descending channel that has held price down for almost 3 months. At the time of writing, DOGE is attempting to hold above it as it seems to be a classic breakout and retest. Bulls must keep price above major resistance of $0.193 for price to continue trading out of the channel. If this is deemed successful, DOGE will likely rise to mid $0.20s.

DOGE Price Analysis: DOGE/USDT 4 Hour Chart

DOGE Price has failed to hold above the 50 MA for nearly 6 weeks. As of now, DOGE prices holding above it. If bulls fail to keep this going, DOGE will be in for a fall back into its descending channel. Price would likely find support at its major support of $0.166. This would be a bearish scenario and it will open the gates for DOGE to fall back under $0.15, to its major support of $0.141. Although, this scenario seems unlikely as of now.

Read More: Elon Musk’s Comments Help Bitcoin (BTC) and Ethereum (ETH) Rally, But Key Resistance Still Intact

The Relative Strength Index has rebounded off lows in a very bullish way. Strength is now stuck within an ascending channel and may continue to be until a push to overbought happens. The Stochastic RSI has just rejected off overbought territory which may show some more consolidation is needed before DOGE pushes higher. 

DOGE intraday levels 

  • Spot rate: $0.186
  • Trend: Bearish
  • Volatility: High
  • Support: $0.166
  • Resistance: $0.193

The post DOGE Price Analysis: Dogecoin Price Rises by 30% As B Word Conference Unfolds, What’s Next? appeared first on Coingape.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency

Categories:

Tags:

Comments are closed

Translate

Our Other Projects

EdgyBranding.com - Premium Domain Names.

Notezi.com - Social Network

ParisArtwork.org - Mid-century Paris NFTs, tokenized on the WAX blockchain.

NewYorkArtwork.org - Mid-century New York NFTs, tokenized on the Ethereum blockchain and offered on Rarible.

Dexize.com - Ultra-Priviate DEX.

ClassicAutomobile.org - Classic Automobile News.