DOGE Technical Analysis: Uptrend Continuing, Price Moving and Breaking Previous Resistances at Various Levels

Ankita  |  Oct 26, 2021

Dogecoin (DOGE) is based on the popular “Doge” Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. In 2014, a not-for-profit foundation was formed by members of the Dogecoin team to provide support, advocacy, trademark protection, and governance for the cryptocurrency project. However, the foundation was dissolved over time.

Let us look at the technical analysis of DOGE.

Past Performance

DOGE opened for trading on 19 October 2021 at $0.2474. The uptrend continued across the week, after which it closed on 25 October 2021 at $0.2647. This was a change of +6.9%.

TradingView Chart

DOGE Technical Analysis

The price chart of DOGE can be seen to continue the uptrend. Price is moving and breaking previous resistances at various levels. Currently, it is trading at 0.2647, which is 0.18% down from yesterday’s close.

OBV is showing a slight decline at the end of its graph. This is a signal that the price may take support here before moving further up. The traders may hold their current positions.

RSI is currently at 60.37% and is showing a horizontal line at the end of its graph. This is again a neutral signal, meaning that the DOGE traders may hold their current positions and wait for a significant call.

MACD is confirming the uptrend as a lagging indicator. The fast line and the slow line both are moving in the upward direction, while the gap between them is not changing rapidly. There is no divergence from the price chart.

Day-Ahead and Tomorrow

The fib numbers show that the DOGE price chart is currently stable at the Fibonacci pivot point of $0.27. The next fib level is at $0.31.

Thus, the traders may hold their current positions as the indicators are giving neutral signals. Meanwhile, the target can be placed at $0.295 and stop-loss at $0.257.

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