DOGECOIN price re-test 200-EXPONSIENS (EMA). At the same time, buyers are trying to pay resistance levels and fill Chicago Trading Gap (CME). This meeting has prompted the technical indicators to the encryption analyst to monitor the next procedure for Dogecoin, with possible scenarios indicating this The upcoming and local results.
Battle at 200 EMA: DOGECOIN Price targets $ 0.32
In a recent analysis of Dogecoin, a TradingView encryption analyst was identified as “swallowacademy” differently. Price expectations for the price of DougShedding light on the rise of $ 0.32 and a decrease in the decline to $ 0.19. Share a Video analysis From his prediction, the analyst revealed that Dogecoin work The daily time frame indicates a struggle between buyers and sellers about 200 EMA.
Currently, Dogecoin re -tests at 200 EMA at $ 0.26. This re -test happened after Mimi's currency re -touched a slightly broken area between $ 0.20 and $ 0.21. While 200 EMA works as a dynamic support level or a DOGE resistance, its current position appears to hinder the price.
The TradingView expert also highlights the presence of the CME gap that has not yet been filled. A successful breach can lead to 200 EMA Increase in purchase of pressureIt is possible that the Mimi currency price will pay for new goals and fill this gap.
In the daily time frames and the hour, 200 EMA is equivalent, which increases the possibility of a Possible outbreak From the level of $ 0.26. If the bulls can mobilize enough momentum to break this main support area, the analyst oversees $ 0.327, which represents an increase of 21.1 % at the price of DOGE.
Tradingview analyst indicated that merchants should monitor the price of Dogecoin before reaching this goal, indicating a Take the profit area On the daily time frame at $ 0.3.
Doge Handish scenario: decrease to low levels?
Add more complexity to the DOGECOIN price analysis, the most prominent Tradingview expert A. A potential landing scenario for Dogecoin If you fail to break 200 EMA. The last shrinkage at the price of Dog led to tremendous sale. As a result, the analyst suggests that if Sellers recover domination In the market and the failure of the Mimi currency in keeping the support area, a decrease may occur to low levels.
It is expected that the price of Dogecoin, which is currently trading at $ 0.25, will decrease to $ 0.19, which represents a 25 % decrease. The decline to this level will be destroyed for investors, as DOGECOIN has already seen Multiple prices are broken During the past few weeks. At the same time, it can also provide a major entry point for investors for low purchase.
With the possibility of a bullish movement and the negative side of the Doge Price, the TradingView analyst advises the traders to watch the market carefully and remain cautious when creating entry and exit strategies.
Distinctive image from Unsplash, Chart from TradingView.com