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DOGEUSD(4 HR) : DOGE finally recovering from the downtrend for BITTREX:DOGEUSD by Mudrex

Market in the last 24hrs
DOGEUSD saw a consolidated movement in the last 24 hours with price moving between upper and middle Bollinger bands . Trading volume is very low in the last 24 hours which could suggest that investors are having doubts about the market which could have led to the current consolidated momentum.

Today’s Trend analysis

Upper and lower Bollinger bands have come very close to the middle line which is an indication of low volatility in the price. Due to this the resistance and support line have come very close to predict any particular momentum. But since the price is currently moving between the middle and the upper bands, we can expect the price to move in a consolidated manner with a slight indication of bullish momentum.

Price volatility was low at approximately 4.52%, with the day’s range between $0.253 — $0.275.

Price at the time of publishing: $0.269

DOGE’s market cap: $35 Billion

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

Out of 11 Oscillator indicators, 0 are giving a SELL signal, 9 are neutral and 2 are giving a BUY signal.

Out of 15 Moving average indicators, 5 are giving SELL signal, 1 is giving neutral and 9 are giving a BUY signal.

Traded volume has remained low in the past 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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