DOGEUSD(1D): DOGE continuing it's bearish momentum
Market in the last 1 week
DOGEUSD moving in an overall downward momentum along with the lower Bollinger band. This could also be backed by the low daily trading volume suggesting that traders are not confident in the asset at the moment. Trading volume has been on the lower side of the spectrum for about some time which might have led to the current bearish momentum.
Next Week's Trend analysis
The price seems to have accepted the lower Bollinger band as a support line which could indicate a consolidated movement with a slight indication of bearish momentum. The price is expected to continue this motion until it moves above the middle Bollinger band.
The price change was high at approximately 17.2 %, with the week's range between $0.193 — $0.262.
Price at the time of publishing: $0.206
DOGE’s market cap: $27.22 Billion
However, the Indicator summary is giving a 'SELL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 8 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is giving a BUY signal.
Traded volume has remained high in the past week. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 1 Day candles.
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Any feedback and suggestions would help in further improving the analysis!
DOGEUSD moving in an overall downward momentum along with the lower Bollinger band. This could also be backed by the low daily trading volume suggesting that traders are not confident in the asset at the moment. Trading volume has been on the lower side of the spectrum for about some time which might have led to the current bearish momentum.
Next Week's Trend analysis
The price seems to have accepted the lower Bollinger band as a support line which could indicate a consolidated movement with a slight indication of bearish momentum. The price is expected to continue this motion until it moves above the middle Bollinger band.
The price change was high at approximately 17.2 %, with the week's range between $0.193 — $0.262.
Price at the time of publishing: $0.206
DOGE’s market cap: $27.22 Billion
However, the Indicator summary is giving a 'SELL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 8 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is giving a BUY signal.
Traded volume has remained high in the past week. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 1 Day candles.
----------------------------------------------------------------------------------------
Any feedback and suggestions would help in further improving the analysis!
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