DOGE: Overbought at Resistance
DogeCoin (DOGE) technical analysis:
Trade setup: Trends are mixed but improving. On the positive note, price has regained the $0.06 key level and rallied to $0.07 resistance area, which is also a 200-day moving average. Near-term, is very overbought (RSI > 75), so we could see some profit taking. Price really needs to break and stay above 200-day moving average ($0.07) to confirm an Uptrend.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.060, then $0.053. The nearest Resistance Zone is $0.070, which it broke, then $0.100.
Trade setup: Trends are mixed but improving. On the positive note, price has regained the $0.06 key level and rallied to $0.07 resistance area, which is also a 200-day moving average. Near-term, is very overbought (RSI > 75), so we could see some profit taking. Price really needs to break and stay above 200-day moving average ($0.07) to confirm an Uptrend.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.060, then $0.053. The nearest Resistance Zone is $0.070, which it broke, then $0.100.
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