Has the price of dog coins entered a bullish reversal trend, or has the recent increase only eased the rebound? The price of dog coins has surged by about 19% this week.The price of dog coins has experienced a significant increase this week, but currently faces significant resistance
Has the price of dog coins entered a bullish reversal trend, or has the recent increase only eased the rebound? The price of dog coins has surged by about 19% this week.
The price of dog coins has experienced a significant increase this week, but currently faces significant resistance.
The price of dog coins faces major obstacles:
The current price of dog coins is facing significant resistance at the gold ratio level of around $0.072, which may lead to bearish rejection.
However, bullish breakthroughs above this level may push prices closer to the gold ratio of approximately $0.086.
In addition, the MACD bar chart has shown a bullish trend over the past week, with the MACD line crossing bullish. Meanwhile, RSI is located in a neutral region and currently does not provide clear bullish or bearish signals.
Monthly MACD signal bullish momentum
From the monthly chart, it is worth noting that the MACD bar chart has been on an upward trend for over a year. However, the MACD line is still in a bearish position, and the RSI is currently in a neutral zone.
If Dog Coin faces bearish rejection, there will be substantial support within the range of approximately $0.053 to $0.06135 at the latest.
These levels may become strong support areas for DOGE prices.
The daily chart shows bullish indicators: what can we expect?
On the daily chart, several bullish signals are evident. The MACD bar chart has shown an upward trend for several consecutive days, and the MACD line has crossed bullish.
However, it is worth noting that RSI has reached an overbought level, but currently has not shown any bearish divergence.
If Dog Coin faces bearish rejection at the gold ratio resistance level of around $0.072, there is significant Fibonacci support at around $0.0668 and $0.0625.
In addition, the 50 day moving average provides important support around $0.0627, further strengthening these potential support levels.
The 4-hour chart indicators provide varying insights
In the 4-hour chart, various indicators provide bullish and bearish signals for dog currency. On the positive side, the gold cross has formed, which usually confirms a short-term bullish trend.
In addition, the MACD line has crossed bullish, and the MACD bar chart shows the bullish trend.
However, it is important to note the significant bearish divergence of RSI, which may indicate a correction trend in prices.
Despite this deviation, it is still possible for the price of DOGE to find support at $0.067 or $0.0625, allowing it to continue its upward trajectory.
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