Dogecoin

Daily

Technical analysis is an essential tool for investors in the cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a>, especially those who trade in the futures market. So, what does technical analysis tell us about <a href="https://en.coin-turk.com/analyst-reveals-bull-calendar-for-btc-and-doge-heres-what-to-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin</a>, which is currently trading at $0.07606? Let’s delve into a detailed chart analysis, examining important support and resistance levels.
<h2 class="p1" style="text-align: justify" id="dogecoin-daily-chart-analysis">Dogecoin Daily Chart Analysis</h2>
The first notable formation on the daily chart of Dogecoin is a descending channel pattern. This structure was surpassed when the resistance line was broken during the recent uptrend. Despite the dominance of selling pressure today, this formation may lead to a positive trend in the future.
The crucial support levels to watch for <a href="https://en.coin-turk.com/dogecoin-shows-signs-of-recovery-as-bitcoin-surges/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a> on the daily chart are $0.07484, $0.07221, and $0.06733. If the daily closing price falls below the $0.06733 level, it could lead to a return to the formation zone and a price below the EMA 200 (red line), resulting in a significant loss of momentum for DOGE.
On the other hand, the important resistance levels to monitor for DOGE on the daily chart are $0.07854, $0.08242, and $0.08772. If the daily closing price exceeds the $0.08242 level, it could trigger an upward trend for DOGE.
<img decoding="async" class="aligncenter wp-image-276055 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/doge-gunluk-grafik.png" alt="" width="2459" height="1105">
<h2 class="p1" style="text-align: justify" id="dogecoin-two-hour-chart-analysis">Dogecoin Two-Hour Chart Analysis</h2>
The first formation that stands out on the two-hour chart for DOGE is an ascending channel pattern. The breakdown of support on November 10th and three consecutive bar closures below this formation indicate a bear trap for investors. However, the presence of DOGE above the support line in recent bar closures suggests a significant waiting period.
The crucial support levels to watch for DOGE on the two-hour chart are $0.07517, $0.07377, and $0.07241. If the bar closes below the $0.07517 level, it will disrupt the formation structure.
Regarding resistance levels, the important levels to observe for DOGE on the two-hour chart are $0.07778, $0.07945, and $0.08090. A bar closure above the major obstacle of $0.08090 will ignite a new upward trend for DOGE.
<img decoding="async" class="aligncenter wp-image-276054 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/doge-2s-grafik.png" alt="" width="2457" height="1097"> Continue Reading: <a href="https://en.coin-turk.com/analysis-of-dogecoin-charts-diving-into-technical-indicators/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/analysis-of-dogecoin-charts-diving-into-technical-indicators/</a>

Analysis of Dogecoin Charts: Diving into Technical Indicators

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