DOGEUSD(4Hr) : DOGE is looking to go into the ground
Market in the last 24hrs
DOGEUSD saw a major bearish trend in the last 24 hours. The price is continuously rejecting the lower Bollinger band as a support line. Volume has been on the lower side of the spectrum in the last 24 hours. We can see that with a decrease in the price there is an increase in the trading volume which could be an indication of a possible trend reversal.
Today’s Trend analysis
The recent candle went below the bottom Bollinger band which usually is an indication of a breakout. The lower lows on the last few candles indicating strong bearish momentum. Now since we are witnessing a breakout we are likely to see a reversal in the future.
Price volatility was very high at approximately 30%, with the day's range between $0.214— $0.290.
Price at the time of publishing: $0.225
DOGE’s market cap: $37.7 Billion
However, the Indicator summary is giving a 'STRONG SELL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 9 are neutral and 0 are giving a BUY signal.
Out of 15 Moving average indicators, 14 are giving SELL signal, 1 is giving neutral and 0 are giving a BUY signal.
Traded volume has remained on the lower side of the spectrum 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 bearish trend in the last 24 hours. The price is continuously rejecting the lower Bollinger band as a support line. Volume has been on the lower side of the spectrum in the last 24 hours. We can see that with a decrease in the price there is an increase in the trading volume which could be an indication of a possible trend reversal.
Today’s Trend analysis
The recent candle went below the bottom Bollinger band which usually is an indication of a breakout. The lower lows on the last few candles indicating strong bearish momentum. Now since we are witnessing a breakout we are likely to see a reversal in the future.
Price volatility was very high at approximately 30%, with the day's range between $0.214— $0.290.
Price at the time of publishing: $0.225
DOGE’s market cap: $37.7 Billion
However, the Indicator summary is giving a 'STRONG SELL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 9 are neutral and 0 are giving a BUY signal.
Out of 15 Moving average indicators, 14 are giving SELL signal, 1 is giving neutral and 0 are giving a BUY signal.
Traded volume has remained on the lower side of the spectrum 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.
----------------------------------------------------------------------------------------
Any feedback and suggestions would help in further improving the analysis!
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