Dogecoin 4H Price Analysis. An Important Support level to hold!
Dogecoin needs to hold the current level, which has acted as an important support level in the past. Because of low volume, and overall market conditions, price needs to be above this support in order to move upwards.
On the other hand, if this support doesn't hold, it might move towards lower levels.
Buying volume is very low and MACD and signal lines are almost flat showing no movement.
9 day EMA is below 26 day EMA which indicates a downtrend.
However, if traders start buying or opening long positions at this level with good volume, and the 9 day EMA crosses over 26 day EMA and persist for few candles, it might see an upward move.
Do share your thoughts on this analysis.
For more trading ideas follow us. Visit Tuned to learn algorithmic trading. Design your trading strategies in our terminal and paper trade, backtest and live trade on your favourite crypto trading exchanges.
Happy Trading
On the other hand, if this support doesn't hold, it might move towards lower levels.
Buying volume is very low and MACD and signal lines are almost flat showing no movement.
9 day EMA is below 26 day EMA which indicates a downtrend.
However, if traders start buying or opening long positions at this level with good volume, and the 9 day EMA crosses over 26 day EMA and persist for few candles, it might see an upward move.
Do share your thoughts on this analysis.
For more trading ideas follow us. Visit Tuned to learn algorithmic trading. Design your trading strategies in our terminal and paper trade, backtest and live trade on your favourite crypto trading exchanges.
Happy Trading