- Advertisement -Newspaper WordPress Theme
UncategorizedDogecoin Price Rises by 30% As B Word Conference Unfolds, What's Next?

Dogecoin Price Rises by 30% As B Word Conference Unfolds, What’s Next?


  • 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

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

Source link

Leave A Reply

Please enter your comment!
Please enter your name here

Subscribe Today

GET EXCLUSIVE FULL ACCESS TO PREMIUM CONTENT

SUPPORT NONPROFIT JOURNALISM

EXPERT ANALYSIS OF AND EMERGING TRENDS IN CHILD WELFARE AND JUVENILE JUSTICE

TOPICAL VIDEO WEBINARS

Get unlimited access to our EXCLUSIVE Content and our archive of subscriber stories.

Exclusive content

- Advertisement -Newspaper WordPress Theme

Latest article

More article

- Advertisement -Newspaper WordPress Theme
$100/Day Profit Daily,
Get Paid to Use Facebook, Twitter, and YouTube.

Discover how to become an 'Online Assistant' and get paid to do freelance work, tasks & projects from home on behalf of companies.