Dogecoin (DOGE) Exhibits an Impressive Independent Trade

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  • Dogecoin, at the time of writing this article, was trading at $0.00254 on HitBTC against US Dollar
  • Around the given current trading price, DOGE has formed a double top at $0.00258 within 17 days after pulling back at $0.0022
  • The current trading price is beyond doubt hinting towards having a fresh, relaxed uptrend soon
  • The current intraday positive move is hitting above the 20-day upper Bollinger Band
  • The price of Dogecoin against BTC is experiencing a steep rise after a subtle downtrend as it trades at 0.000000276 BTC

The major altcoins are seen having an impressive trading duration as we see XRP has gained over 11% and formed a fresh 30-day high at $0.28 while currently trades around. Comparatively, we have seen no growth in the trading price of Bitcoin as it continues to trade around $9,200 without any volatile breakout.

Dogecoin Price Analysis

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DOGE/USD Chart By TradingView

Taking a glance at the 4-hourly movement of Dogecoin against US Dollar, we see that the coin has started gaining pace after pulling back from the height of $0.00258 to again forming a double top in the past 24 hours. The coin is rightly supported by the daily moving averages at $0.00247, $0.00242, and $0.00229 for an unpredictable breakdown. However, the price trend of DOGE is hitting above the 20-day upper Bollinger Band. There is a moderate band width and we do not foresee any unpredictable movement in the upcoming days.

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DOGE Price News

However, if we take to analyze the DOGE/BTC movement in the same duration, we see that the coin was first showing an anguished trade, and it even slid below 0.000000255 BTC. However, the steep growth that has rightly broken the trend in the past 24 hours shows that this time Dogecoin has been growing without any influential effect of growth by Bitcoin.

Technicals

The MACD of BTC is seen as having a bullish divergence as it moves above zero and is cutting the signal line from below with positive histogram presentation.

The RSI of Dogecoin is at 65.72 and is hitting around the overbought region as there happened to be an amazing independent intraday move.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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