DOGEUSD under immense pressure| Trendline support (4H)

11 июн. 2021 г.

Quick glance: On our previous analysis on DOGEHUSD , we discussed the Bears seemingly taking over. DOGE might not be getting to the moon, at least not yet.

Market in the last 24hrs
DOGEUSD witnessed a tepid trading volume. Price has taken support of the trend line multiple times.

Today’s Trend analysis
DOGEUSD seems to be under some pressure. Price is likely to facing a squeeze at from the Bollinger Bands. It seems that the traders are waiting for price to breakout in either direction before jumping in and placing trades.

Price volatility remained moderately low at approximately 2.8%, with the day's range between $0.318 — $0.327.

Price at the time of publishing: $0.321
DOGE's market cap: $41.8 Billion

• Out of 11 Oscillator indicators, 9 are neutral, and 1 points to 'SELL' signal, and 1 of them presents a bullish view.
  
  
• Out of 15 Moving average indicators, 13 are giving a 'SELL' signal, and only 1 is giving a 'BUY' signal.
  
  
• Indicator summary is giving a 'SELL' signal on ETHUSD for the shorter timeframe.
  
  

Volumes have remained extremely low in the past 24 hours and on a decreasing trend.
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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 4Hr candles.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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