DOGEUSD Price Analysis – April 18
Further increase in the bulls’ momentum will make the price to break above the resistance level of $0.45; above it are $0.52 and $0.62 resistance levels. Should the $0.45 resistance level holds, the price may reverse and face the support level at $0.36, further increase in the bears’ pressure may push down the price to $0.28 and $0.22.
DOGEUSD Market
Key levels:
Resistance levels: $0.45, $0.52, $0.62
Support levels: $0.36, $0.28, $0.22
DOGEUSD Long-term Trend: Bullish
DOGEUSD is bullish at the moment on the daily chart. The coin was range-bound within the resistance level of $0.09 and support level of $0.08 two weeks ago. The bulls made attempts four times to break up the resistance level of $0.09 but later succeeded to break up the significant level. The bulls’ momentum was enough to break up the resistance levels of $0.15, $0.22 and $0.28 with the formation of strong bullish candles. The price pulled back at $0.36 on April 17 to retest $0.28 level.
The bulls’ momentum is increasing and the resistance level of $0.36 is breaking up heading towards $0.45 price level. The price is trading above the 9 periods Moving Average and 21 periods Moving Average indicating an increase in the bulls’ pressure. Further increase in the bulls’ momentum will make the price to break above the resistance level of $0.45; above it are $0.52 and $0.62 resistance levels. Should the $0.45 resistance level holds, the price may reverse and face the support level at $0.36, further increase in the bears’ pressure may push down the price to $0.28 and $0.22. The relative strength index period 14 is bending up at 50 levels to indicate buy signal.
DOGEUSD medium-term Trend: Bullish
DOGEUSD is bullish in the 4-hour chart. The price action tested the resistance level of $0.36 on April i6, the price retraced towards the support level at $0.22. The bearish pressure could not break down the level. The bulls are taking up the market and it is increasing at the moment towards $0.45 after it breaks up the resistance level at $0.36.
The relative strength index period 14 is at 70 levels and the signal lines is exhibiting buy signal.
