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Cryptoknowmics 2022-06-27 09:05:12

DOGE Technical Analysis: Dogecoin Soon To Reclaim $0.10 Pillar

DOGE price rises higher, forming a rounding bottom reversal pattern and preparing a bullish breakout to reach the $0.10 mark. Key technical points: The DOGE market price has appreciated 13.14% over the past 24 hours. The price action shows a rounding bottom pattern breakout. The 24-hour trading volume of Dogecoin is $1.17 Billion, indicating a hike of 190%. Past Performance of DOGE DOGE price action showcases a rounding bottom reversal with the buyers overtaking control near the psychological mark of $0.050. The double bottom pattern breakout at $0.050 propels the market value higher by 45% over the past week. Source- Tradingview DOGE Technical Analysis The DOGE price jump surpasses the neckline of the rounding bottom pattern at $0.075, with the 5.34% bullish candle forming today. Hence, the candle closing above the neckline will make the bullish breakout official, increasing the likelihood of an uptrend continuation. The DMI indicator shows a bullish trend reversal as the crossover puts the DI lines back in the positive alignment. Moreover, the ADX line takes a sideways turn displaying a lost bearish momentum and a fresh start of bullish trend momentum. The RSI indicator shows a phenomenal increase in the underlying bullishness as the slope surpasses the halfway line. Moreover, the 14-day SMA mimics the RSI and takes a bullish turnaround from the oversold boundary. The MACD indicator shows a positive trend in the fast and slo...

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