#CryptoTrading.
đTechnical Analysis (1 hour) $DOGE /USDT
1. Price and Trend:
⢠Current Price: 0.02082 USDT (-3.78% in the last 24 hours).
⢠The chart shows a recent decline after a local peak (around 0.02119). The trend looks bearish in the short term as the price has fallen below the moving average (MA).
2. Moving Averages (MA):
⢠MA(5): 0.2468 (short-term) and MA(10): 0.2360 (medium-term) indicate a possible crossover, which could signal a trend change. Since the price is below the MA, this supports the bearish sentiment.
3. Bollinger Bands (BB):
⢠Upper band (UP): 0.20165, Middle band (MB): 0.19883, Lower band (DN): 0.19600.
⢠The price is approaching the lower band, which may indicate oversold or a possible rebound.
4. MACD:
⢠DIF: -0.00062, DEA: -0.00114, MACD: 0.00052.
⢠MACD shows a weak bullish signal (positive value), but proximity to zero and negative DIF/DEA may indicate instability and a possible continuation of the decline.
5. Stochastic RSI:
⢠STOCHRSI: 45.72, MASTOCHRSI: 42.28.
⢠A value in the range of 40-80 indicates a neutral zone. This does not indicate strong oversold or overbought conditions.
6. Volume:
⢠Trading volume: 110,448,846, which is significant. The increase in volume during the price decline may confirm the strength of the bearish trend.
â ď¸Conclusion:
⢠The short-term trend looks bearish, with the possibility of further decline to the support level near 0.01951 (local minimum).
⢠BB and MACD indicators hint at a potential rebound if the price reaches the lower band or a MACD reversal occurs.
⢠It is recommended to monitor the resistance level (0.02119) and support (0.01951). If the volume increases on the rise, this may signal a change in the trend.
