Bullish Exhaustion Near Resistance
Key Resistance at $0.10476
Dogecoin (DOGE) is currently trading around $0.102, after failing to break through the upper Bollinger Band resistance of $0.10476. The price hit a high of $0.10495, but selling pressure has pulled it back below the BB Basis of $0.10322.
After peaking at $0.10495, Dogecoin has pulled back, now stabilizing around $0.102. The rejection from the $0.10476 resistance (upper Bollinger Band) aligns with the broader bearish sentiment seen in early September. Dogecoin's struggles echo a trend seen across the market, as DOGE has dropped 17% in the last week
Bollinger Bands: Overbought Conditions
The price is hovering just below the upper Bollinger Band, indicating that DOGE is in an overbought state. A rejection at these levels could trigger a pullback to the lower band support at $0.10168.
RSI Neutral, But Losing Steam
The RSI is sitting near neutral at 49.87, suggesting indecision in the market. However, its divergence from the RSI-based MA (60.41) hints at weakening bullish momentum, with potential downside ahead.
Stochastic Oscillator Shows Oversold Conditions
The %K and %D values of 19.54 and 14.44 indicate oversold conditions, which might signal a short-term bounce, but buyers need to regain momentum for a sustained move higher.
MACD Turning Bearish
The MACD histogram (-0.00045) has flipped negative, suggesting a potential bearish crossover. The MACD line is still above the signal line, but momentum appears to be weakening, which could lead to further downside.
Support and Resistance Levels
Immediate Resistance: $0.10476 (Upper BB)
Support: $0.10322 (BB Basis), $0.10169 (Lower BB)
Short-Term Outlook: DOGE is showing signs of exhaustion near the $0.10476 resistance. If it fails to break higher, expect a potential dip toward $0.10168, with a possible bounce from there. The Stochastic and RSI suggest caution, as momentum indicators signal weakening strength.
Watch for a confirmed break above $0.10476 to signal bullish continuation. Otherwise, a retrace to the lower Bollinger Band is likely.
Dogecoin (DOGE) is currently trading around $0.102, after failing to break through the upper Bollinger Band resistance of $0.10476. The price hit a high of $0.10495, but selling pressure has pulled it back below the BB Basis of $0.10322.
After peaking at $0.10495, Dogecoin has pulled back, now stabilizing around $0.102. The rejection from the $0.10476 resistance (upper Bollinger Band) aligns with the broader bearish sentiment seen in early September. Dogecoin's struggles echo a trend seen across the market, as DOGE has dropped 17% in the last week
Bollinger Bands: Overbought Conditions
The price is hovering just below the upper Bollinger Band, indicating that DOGE is in an overbought state. A rejection at these levels could trigger a pullback to the lower band support at $0.10168.
RSI Neutral, But Losing Steam
The RSI is sitting near neutral at 49.87, suggesting indecision in the market. However, its divergence from the RSI-based MA (60.41) hints at weakening bullish momentum, with potential downside ahead.
Stochastic Oscillator Shows Oversold Conditions
The %K and %D values of 19.54 and 14.44 indicate oversold conditions, which might signal a short-term bounce, but buyers need to regain momentum for a sustained move higher.
MACD Turning Bearish
The MACD histogram (-0.00045) has flipped negative, suggesting a potential bearish crossover. The MACD line is still above the signal line, but momentum appears to be weakening, which could lead to further downside.
Support and Resistance Levels
Immediate Resistance: $0.10476 (Upper BB)
Support: $0.10322 (BB Basis), $0.10169 (Lower BB)
Short-Term Outlook: DOGE is showing signs of exhaustion near the $0.10476 resistance. If it fails to break higher, expect a potential dip toward $0.10168, with a possible bounce from there. The Stochastic and RSI suggest caution, as momentum indicators signal weakening strength.
Watch for a confirmed break above $0.10476 to signal bullish continuation. Otherwise, a retrace to the lower Bollinger Band is likely.
💎 We believe that everyone can trade and deserves the opportunity to succeed in the world of cryptocurrency and take advantage of its potential.
🥇Join our free Telegram channel ➜ t.me/monocoin_public
👤Admin ➜ t.me/monocoin_admin
🥇Join our free Telegram channel ➜ t.me/monocoin_public
👤Admin ➜ t.me/monocoin_admin
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.