empty
 
 
02.08.2024 07:35 AM
Technical Analysis of Intraday Price Movement of Doge Cryptocurrency, Friday August 02, 2024.

This image is no longer relevant

If we look at the 4-hour chart, the Doge cryptocurrency appears to be moving in a weakening condition, which is also confirmed by its price movement which is moving in the Bearish Pitchfork channel and is below the EMA 20 & EMA 50 which is also in line with that the EMA 20 is below the EMA 50 and the Momentum indicator is also below level 100, where all of this gives an indication that Sellers are currently very dominant, but we need to be aware of the appearance of deviations between the Doge price movement which forms a Lower Low while the Momentum indicator makes a Lower High so that in the near future there is a potential for a strengthening correction in the cryptocurrency, but as long as it does not broken above the level of 0.12328, Doge will weaken again down to level 0.11208 and level 0.10600 if momentum and volatility support.

(Disclaimer)

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback