DOGE/USD Approaches $0.20; Price Touches the Daily High – Cryptovibes.com – Daily Cryptocurrency and FX News
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DOGE Price Analysis – January 14
After the breakout above the upper boundary of the channel, the Dogecoin price may continue to rise towards the upside.
DOGE/USD Market
Key Levels:
Resistance levels: $0.23, $0.25, $0.27
Support levels: $0.15, $0.13, $0.11
DOGE/USD is currently trading at $0.18 after confirming a daily uptrend and climbing above the upper boundary of the channel. However, should in case the buyers were able to push the price above the resistance level of $0.20, the daily candlestick may remain above channel, then, the price may rally towards the previous high, resistance level of $0.21.
Dogecoin Price Analysis: Would Dogecoin Continue the Upward movement?
Looking at the daily chart, the 9-day moving average is yet to trade above the 21-day moving average and the coin is likewise trading around the upper boundary of the channel which connotes that the buyers are currently gaining upper hand in the market. The technical indicator is currently crossing above 60-level with the signal line pointing up to indicate a buy signal.
However, in case the buyers were able to push the price above the resistance level of $0.22 and the daily candlestick close above this level, then, the price may rally towards the previous high at $0.23, $0.25, and $0.27 resistance levels while the supports could be located at $0.15, $0.13, and $0.11.
DOGE/BTC Market: Price Ready to Retain the Upward Movement
When compares with Bitcoin, the coin keeps moving to upside and if the market continue to follow a bullish surge, DOGE may swing high to the resistance level of 470 SAT and above. However, if the coin nosedives to the south, it could locate the support level of 400 SAT and below.
Moreover, the DOGE market is currently bullish as the technical indicator Relative Strength Index (14) crosses into the overbought region which signifies that bulls are dominating the market at the time of writing.
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