Dogecoin [Doge] Continues to Trade in a Range

european binary trading

BTC/USD Daily Chart:

Bitcoin Daily Chart – Source: TradingView.com

Market leader Bitcoin has met support at the $3300 level and has been trading up from this point and is currently trading around $3400.

Other altcoins have been responding well to this increase and have either entered trading ranges or are recording small increases.

DOGE/USD Weekly Chart:

Doge Weekly Chart – Source: TradingView.com

Dogecoin traded in a range even while the market leader Bitcoin and other major altcoins continued to decline steeply.

Doge has been trading in a range from $0.002 to $0.0023 for the past three weeks and has moved mostly independent of the rest of the market since.

Doge Daily Chart – Source: TradingView.com

After forming numerous Doji candles on the daily chart, Dogecoin looks unlikely to break out from the range right now.

A Doji candle is a candle with little or no body due to the open being around the same point as the close and reflects uncertainty from traders.

Buyer momentum has gradually been increasing while Doge has been trading within the range with both the RSI and MACD slowly increasing.

Key Takeaways:

  • Bitcoin meets support and many major altcoins enter a range or record more bullish movements due to this.
  • Dogecoin has been trading in a range from $0.002 to $0.0023 for the past three weeks and has mostly moved independently of the rest of the market since entering the range.
  • After forming many Doji candles on the Daily chart, Dogecoin looks unlikely to break out of its range soon.

Dogecoin [Doge] Continues to Trade in a Range was originally found on [blokt] – Blockchain, Bitcoin & copy trading cryptocurrency.