DOGE Price Analysis – July 14
DOGE is greatly affected by the price of Bitcoin on the market. Bitcoin is supposed to increase in the chart for a while. The same movement may likely pull the market back on the track.
Resistance levels: $0.0040, $0.0042, $0.0044
Support levels: $0.023, $0.021, $0.019
Dogecoin surprised all by maintaining price momentum during the sharp decline. The coin is currently bearish, but we expect the second half of the day to bring positive changes to the coin. DOGE/USD is likely to lead to a sharp rise in prices. Looking at the Dogecoin chart, the coin reflects a lower price.
However, the coin hit a high of $0.0033 and a low of $0.0031 on July 13th. Today, the coin opened with a slight upsurge. Demand levels to watch include $0.0023, $0.0021 and $0.0019. The current technical chart has a bullish bias with supply levels of $0.0040, $0.0042 and $0.0044. Meanwhile, the MACD is comfortably seated in the negative side and the stochastic RSI is heading towards the oversold zone.
Comparing DOGE with BTC, the demand level of this range is built around 020SAT, while the supply level is set at 038SAT because the market price is still moving under the 50-day moving average. Technically, the price started moving up slowly within the ascending wedge a few days ago and the MACD indicator is trying to recover from the negative area by giving some bullish signals.
However, should in case the market price continue to move in an uptrend as it is currently, it may likely cross the red line of 50-day moving average to reach the supply levels at 038SAT, 040SAT and 042SAT respectively. Conversely, the market may find demands at 020SAT, 018SAT and 016SAT if the bears take control.
Please note: Cryptovibes.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.