Dogecoin Token Recovery Facing Hurdle of 100-DMA Line

  • Dogecoin token is trying to recover from lower levels after a sharp downfall from the higher zone with significantly lower volume activity.
  • The crypto asset recovery over the monthly chart faces a minor hurdle of the 100-DMA line while comfortably trading above the 200-DMA line. 
  • The pair of DOGE/BTC is trading flat at 0.000005476 BTC with a minor intraday dip of -1.15%, and the ratio of DOGE/ETH is CMP at 0.00007412 ETH with an intraday gain of +1.34%. 

Dogecoin token at the monthly chart is trying to recover from lower levels, but facing a hurdle of 100-DMA. Likewise, the crypto asset witness intense buying action from lower levels which pulls tokens towards the higher side. The coin manages to sustain above its vital moving average of the 200-Day line while slipping below 20, 50 and 100-DMA lines. 

Volume over the monthly chart is still lower and falls below the average line, which needs to improve in upcoming sessions. However, if DOGE manages to suppress and sustains above 50 and 200-DMA lines, we can soon see a good recovery. Despite the sharp correction, the medium to long-term trend is still favouring the bulls until it manages to sustains above 200-DMA lines. Support on the lower side is $0.2280 and $0.2150, whereas resistance on the higher side is $0.2730 and $0.3160.

Dogecoin token is consolidating over the weekly chart

Dogecoin token is consolidating over the weekly chart after a sharp correction from higher levels. At the same time, the technical parameters are presently indicating the mixed trend with below-average volume activity. Dogecoin sideways acting can give a strong recovery if supportive volume action at the 4-hour chart will trigger. Presently, dogecoin is at $0.2490 with an intraday loss of -2.12%, and the volume to market cap ratio at 0.05356. 

Relative Strength Index (NEUTRAL): Dogecoin token RSI is presently trading flat near the oversold zone. In contrast, the RSI is trading sideways and bouncing back from current levels, and now CMP is at 35.    

Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates a neutral with a mixed trend at the 4-hour time frame. At the same time, the seller’s line (orange) and the buyer’s signal line (blue) overlaps.

Support levels: $0.2280 and $0.2150

Resistance levels: $0.2730 and $0.3160.

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