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DOGEUSD(4Hr) : DOGE saw a major drop for BINANCE:DOGEUSD by Mudrex

Market in the last 24hrs
DOGEUSD can be seen oscillating on the middle Bollinger band and recently saw a dip where the price rejected 2 major support lines i.e. the middle and the bottom Bollinger bands . Trading volume has been high and has remained almost similar throughout the day.

Today’s Trend analysis

The latest candle suggests a strong bearish momentum setting in the future.

Price volatility was low at approximately 2.69%, with the day’s range between $0.196 — $0.211.

Price at the time of publishing: $0.199

DOGE’s market cap: $29.21 Billion

However, the Indicator summary is giving a ‘STRONG SELL’ signal on DOGEUSD.

Out of 11 Oscillator indicators, 5 are giving a SELL signal, 6 are neutral and 0 are giving a BUY signal.

Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is giving a BUY signal.

Trading volume has been high in the last 24 hours. If we don’t see a sudden spike in volume then we can expect the above analysis to hold true.

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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.

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Any feedback and suggestions would help in further improving the analysis!

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