Current status of $DOGE 🚀🚀
It’s on short tome bullish trend‼️🚀🚀
But how low and high can it go❓❓
Based on the chart provided, here are some key observations regarding the trend:
1. Recent Price Increase: The price of DOGE/USDT has risen to $0.16806 (+7.04%), showing a short-term bullish movement.
2. Support and Resistance: The recent low of $0.14280 indicates a strong support level, while the recent high of $0.16854 acts as a resistance.
3. Moving Averages (MA):
• The 7-period MA (yellow line) is at 0.15937, which is below the current price, suggesting bullish momentum.
• The 25-period MA (pink line) is at 0.17856, which is still above the price, meaning the longer-term trend is still bearish.
• The 99-period MA (purple line) is at 0.20118, far above the price, indicating a bearish long-term trend.
4. Volume Analysis: There is a recent increase in volume, showing interest from buyers.
5. RSI (Relative Strength Index):
• RSI(6) = 55.94, indicating moderate bullish momentum.
• RSI(12) and RSI(24) are still below 50, suggesting the overall trend is not strongly bullish yet.
Conclusion:
The short-term trend appears bullish, but the longer-term trend is still bearish. If the price can break above the 25-period MA (~0.17856) with strong volume, it could confirm a stronger bullish trend. Keep an eye on resistance levels and moving averages for confirmation.
