DOGE Price Analysis – January 21
DOGE is currently trading downwards, just like any other altcoins in the market, experiencing a fall from $0.15 to $0.14 trading price area.
DOGE/USD Market
Key Levels:
Resistance levels: $0.18, $0.19, $0.20
Support levels: $0.12, $0.11, $0.10
DOGE/USD has resumed back into the market as the coin drops to touch the support level of $0.14. The DOGE price is now roaming below the 9-day and 21-day moving averages. If the market continues the down-surge and squeeze, the, $0.13 is likely to surface in the next few negative moves. Meanwhile, DOGE/USD might further look for lower price levels if the bears continue to show commitment.
DOGE Price Analysis: What to Expect From DOGE/USD
The DOGE market is currently following the downward trend as the technical indicator Relative Strength Index (14) moves below 40-level. Looking at the daily chart, traders can see the trading volume is becoming low. Therefore, if the DOGE price continues to stay under the control of bears, it may likely locate the supports at $0.12, $0.11, and $0.10. On the upside, any bullish movement above the 9-day and 21-day moving averages could hit the potential resistance levels at $0.18, $0.19, and $0.20 respectively.
DOGE/BTC Market: Price May Head to the North
Looking at the daily chart, DOGE/BTC is range-bound. The price keeps moving within the 9-day and 21-day moving averages. It is currently above the 21-day moving average but couldn’t cross above the 9-day MA. However, the bears may drag the price below this barrier and any further movement could take the coin to the support levels of 350 SAT and below.
However, looking at the current Relative Strength Index (14), the signal line moves toward the 60-level, it appears that bears may likely put pressure on the bulls. Therefore, if the bulls can strengthen the market and push the coin upward, the DOGE price may begin an uptrend and may locate the resistance level of 430 SAT and above.
