Weekly candle for #DOGE
Price action is on the moderate side, the price fell below the $0.136810 horizontal after previously moving higher. These deviations are considered moderate signs. Despite this decline, DOGE price is still positive by 115.95% since the beginning of the year
Relative Strength Index (RSI).
The Relative Strength Index (RSI) provides additional insight into market momentum by measuring the size of a price move to determine whether it is overvalued or undervalued. Market traders use the RSI as a momentum indicator to identify conditions of overbought or oversold, and to decide to accumulate or sell assets. Readings above 50 and an uptrend indicate that bulls still have a point of strength, while readings below 50 indicate the opposite.
According to the RSI, in the 1-week candle time frame, the coin is currently trending upward with the actual RSI reading at 54.50. The 50 line could provide support if the indicator returns to it
Moving averages
Moving averages are an important analytical tool that provides traders with a bigger picture of what is happening in the charts by calculating the average closing price of a currency over a specific period of time. The relationship between the short-term and medium-term moving averages is crucial in determining the direction of the trend. When the short-term moving average moves above the long-term moving average, this indicates that the trend is gradually turning bullish
