DOGE Price Analysis – August 23
Dogecoin (DOGE) back at $0.0027 on the daily chart and the daily price movement can take the coin to $0.0030 resistance level.
Supply levels: $0.0030, $0.0032, $0.0034
Demand levels: $0.0023, $0.0021, $0.0019
Dogecoin (DOGE) has been suffering for a long time in the chart. The current scenario of the coin is better than in recent days. They were quite disappointing as the Dogecoin hit $0.0024. This level was last touched in February 2019. Well, it seems like the storm has passed and the coin should remain tight compared to the current level.
At the time of writing, Dogecoin is now hovering at $0.00271 after rising 0.16%. Looking north, the immediate supply is $0.0029, which may allow a new retest at $0.0028. A correction above the 21-day moving average will pave the way for gains in supply levels of $0.0030, $0.0032 and $0.0034. On the downside, immediate support is $0.0025. It is important to note that $0.0026 is a key level of support, while the main support levels are $0.0023, $0.0021 and $0.0019, but the stochastic RSI and the RSI (14) are slowly moving in sideways, indicating an indecisive market for now.
Against BTC, since August 11, the price has been in sideways and its support level is built around 20SAT, 18SAT, and 16SAT, while the resistance level is set at 30SAT because the market price keeps around the 21-day moving average. Looking at it critically, the price awaits breakout or breakdown as it keeps moving slowly within the channel.
Meanwhile, for the past 3 days, the market has always closed the day with more green but today, the price has dropped drastically, the market may likely cross down the lower side of the channel to reach the demand levels at 20SAT, 18SAT, and 16SAT. The stochastic RSI signal and MACD indicators are on positive sides raising the hope of the bulls.
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