DOGEUSD Price Analysis – February 19
Further increase in the bulls’ momentum will make the price to break above the resistance level of $0.1758; above it are $0.1949 and $0.2173 resistance levels. Should the $0.1758 resistance level holds, the price may reverse and face the support level at $0.1256, further increase in the bears’ pressure may push down the price to $0.0965 and $0.0700.
DOGEUSD Market
Key levels:
Resistance levels: $0.1758, $0.1949, $0.2173
Support levels: $0.1256, $0.0965, $0.0700
DOGEUSD Long-term Trend: Ranging
DOGEUSD is in the ranging zone. The coin is range-bound within the resistance level of $0.1758 and support level of $0.1256. The bulls have made attempts four times to break up the resistance level of $0.1758 but unable because the level is significant. The bears’ momentum is not enough to break down the support level of $0.1256. The ranging movement will continue until the breakout takes place.
The slow Moving Average (21 periods) is at a close range with the fast Moving Average (9 periods EMA) and the price is trading over the two EMAs as a sign of ranging movement. Further increase in the bulls’ momentum will make the price to break above the resistance level of $0.1758; above it are $0.1949 and $0.2173 resistance levels. Should the $0.1758 resistance level holds, the price may reverse and face the support level at $0.1256, further increase in the bears’ pressure may push down the price to $0.0965 and $0.0700. The relative strength index period 14 is bending towards south at 42 levels to indicate that sell signal.
DOGEUSD medium-term Trend: Ranging
DOGEUSD is ranging in the 4-hour chart. The price action has tested the resistance level of $0.1758 twice. The first touch was on January 20, the second touch was on February 07; this is a bearish reversal chart pattern.
The currency is trading over the 21 periods EMA and 9 periods EMA and the two EMAs is interlocked to each other which indicates that consolidation is in progress in the DOGE market. The relative strength index period 14 is at 42 levels and the signal lines is not exhibiting any signal.
