Dogecoin (DOGEUSD ) Is Bullish Targeting $0.57 Level – Cryptovibes.com – Daily Cryptocurrency and FX News

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DOGEUSD Price Analysis – June 03

Further increase in the bulls’ momentum will make the price to break above the resistance level of $0.41; above it are $0.57 and $0.69 resistance levels. Should the $0.41 resistance level holds, the price may reverse and face the support level at $0.27, further increase in the bears’ pressure may push down the price to $0.14 and $0.010.

DOGEUSD Market

Key levels:

Resistance levels: $0.41, $0.57, $0.69

Support levels: $0.27, $0.14, $0.010

 

DOGEUSD Long-term Trend: Bullish

DOGEUSD is bullish in the daily chart. Dogecoin reached the resistance level of $0.69 on May 08. The bears opposed further price increase; daily bearish candles formed and the price fall towards the support level of $0.27. The bears’ pressure fails and price bounces to retest the resistance level at $0.41.The price is trying to break up the resistance level at $0.41.

DOGEUSD daily chart, June 03

The fast Moving Average (9 periods) is trying to cross the slow Moving Average (21 periods EMA) upside and the price is trading above the two EMAs as a sign of bullish movement. Further increase in the bulls’ momentum will make the price to break above the resistance level of $0.41; above it are $0.57 and $0.69 resistance levels. Should the $0.41 resistance level holds, the price may reverse and face the support level at $0.27, further increase in the bears’ pressure may push down the price to $0.14 and $0.010. The relative strength index period 14 is at 60 levels bending down to indicate sell signal.

 DOGEUSD medium-term Trend: Bullish

DOGEUSD is bullish in the 4-hour chart. The price tested the support level of $0.27 on the May 23. A Pin bar candle pattern formed at the same level which connote the triggering of the bullish momentum. The price increases towards the $0.41 price level.

DOGEUSD 4 hour chart, June 03

The currency is trading above the 21 periods EMA and 9 periods EMA and the two EMAs are fan apart to each other which indicates that bulls’ momentum increases in the DOGE market. The relative strength index period 14 is at 70 levels and the signal lines pointing down exhibiting sell signal.

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