The bears are looking strong in the last 24 hours and are still in play. Let’s hope we see some relief soon.
Market in the last 24hrs
In the past 24 hours, DOGEUSD has been moving in a bearish momentum and has been constantly rejecting the lower Bollinger band. Trading volume has been high in the last 24 hours. The increased volume can be seen decreasing lately with a decrease in price which could indicate a possible trend reversal soon.
Today’s Trend analysis
DOGEUSD is expected to continue this bearish momentum until the price accepts the lower Bollinger band as a support line. Then we can expect some consolidated movement with a slight indication of a bullish trend.
Price volatility was high at approximately 9.57%, with the day’s range between $0.208 — $0.232.
Price at the time of publishing: $0.21
DOGE’s market cap: $27.4 Billion
However, the Indicator summary is giving a ‘SELL’ signal on DOGEUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 6 are neutral and 3 are giving a BUY signal.
Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is giving a BUY signal.
Trading volume has been high in the last 24 hours. The increased volume can be seen decreasing lately with a decrease in price which could indicate a possible trend reversal soon. 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!