- DOGE/USD pair ranges as price falls to the horizontal line
- The coin is currently facing resistance at the $0.003 price level
- If the DogeCoin falls to the low of $0.0025 or $0.0026, the cryptocurrency’s price will resume its upward move
DOGE Current Statistics
The current price: $0.00275
Market Capitalization: $338,969,608
Trading Volume: $31,000,125
Major supply zones: $0.004,$0.0045, $0.005
Major demand zones: $0.002, $0.0015, $0.001
Dogecoin Price Analysis August 14, 2019
The Dogecoin price is in a range bound move but it is currently facing resistance at the $0.003 price level. On July 16, the market fell to a low of $0.0027 and began trading below the $0.003 price level.
On the positive side, if the bulls break above the $0.003 price level, DOGE price would rise and retest the upper price range of $0.0035. However, if the bulls can’t manage to break the $0.003 price level, the crypto’s price will fall and retest the lower price range.
Chart Indicators Reading
The Relative Strength Index period 14 is level 45 which indicates that price is in a sideways trend. The buyers and sellers are undecided about the direction of the current price level.
Both the 12-day and 26-day EMA are fluctuating horizontally indicating that price is in a range bound move.
The upper and lower horizontal lines had not been tested and broken. In July, the bulls attempted and broke the upper price range but the bulls failed to keep the price above the horizontal line. The lower horizontal line had not been tested since April.
General Outlook for DOGEUSD
The Dogecoin price’s range-bound movement is likely to continue because of the signals of the indicators. The Exponential Moving Averages (EMAs) are trending horizontally suggesting that price is in a sideways trend.
The RSI (Relative Strength Index) period 14 is level 45 which is between the range-bound zone of 40 and 60 of the indicator reading. Taking into account the DogeCoin’s price action, the market had been fluctuating between the levels of $0.0025 and $0.0030 since July 16.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.