DOGEUSD(4Hr) : DOGE sees some recovery after a bearish run
Market in the last 24hrs
DOGEUSD saw a major bullish trend in the last 24 hours after being in a bearish trend for the past week. The price just crossed over the middle Bollinger band. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
The price just went over the middle Bollinger band which usually acts as a strong resistance line, thus this indicates a possibility of continuation of the bullish momentum. If this is true then the price will see a bullish movement till it reaches the next resistance line which is the upper Bollinger band followed by consolidated movement. There is also a chance that what we might be seeing could be a false breakout and we can see the DOGE revert back to its bearish trend.
Price volatility was very high at approximately 19.91%, with the day's range between $0.181— $0.249.
Price at the time of publishing: $0.231
DOGE’s market cap: $30 Billion
However, the Indicator summary is giving a 'NEUTRAL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 0 are giving a SELL signal, 9 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 8 are giving SELL signal, 1 is giving neutral and 6 are giving a BUY signal.
Traded volume has remained high in the past 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
DOGEUSD saw a major bullish trend in the last 24 hours after being in a bearish trend for the past week. The price just crossed over the middle Bollinger band. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
The price just went over the middle Bollinger band which usually acts as a strong resistance line, thus this indicates a possibility of continuation of the bullish momentum. If this is true then the price will see a bullish movement till it reaches the next resistance line which is the upper Bollinger band followed by consolidated movement. There is also a chance that what we might be seeing could be a false breakout and we can see the DOGE revert back to its bearish trend.
Price volatility was very high at approximately 19.91%, with the day's range between $0.181— $0.249.
Price at the time of publishing: $0.231
DOGE’s market cap: $30 Billion
However, the Indicator summary is giving a 'NEUTRAL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 0 are giving a SELL signal, 9 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 8 are giving SELL signal, 1 is giving neutral and 6 are giving a BUY signal.
Traded volume has remained high in the past 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
----------------------------------------------------------------------------------------
Any feedback and suggestions would help in further improving the analysis!
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