A Look at DOGE’s Crucial Range

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Doge­coin price has eased after recoup­ing some of Wednesday’s loss­es. The recent price move­ments are a reac­tion to the Fed’s hawk­ish tone in the inter­est rate deci­sion released on Wednes­day. The cen­tral bank will reduce its asset pur­chas­es by $30 bil­lion month­ly with the intent of wind­ing them own in the ini­tial months of the com­ing year. its cur­rent pace is a with­draw­al of $15 bil­lion monthly.

A hawk­ish tone from the Fed is usu­al­ly bear­ish for cryp­tocur­ren­cies and oth­er riski­er assets. How­ev­er, the mar­ket had already priced in the move. Bit­coin, which often sets the trend for alt­coin, inched high­er after Wednesday’s decline. Nonethe­less, it lacked enough momen­tum to reach the psy­cho­log­i­cal­ly cru­cial lev­el of $50,000.

Dogecoin price prediction

Doge­coin price has eased after bounc­ing off Wednesday’s low. Ear­li­er in the week, the alt­coin momen­tar­i­ly rose to the month’s high at 0.2280 before pulling back. At the time of writ­ing, it was down by 0.83% at 0.1796.

On a four-hour chart, Doge­coin price is trad­ing slight­ly above the 25 and 50-day expo­nen­tial mov­ing aver­ages. In the short term, the range between the sup­port zone of 0.1602 and the resis­tance lev­el of 0.1926 will be one to look out for.

A move above the hor­i­zon­tal channel’s upper bor­der will like­ly have the bulls face resis­tance along 0.2000. On the flip side, a decline past the range’s low­er lev­el will have 0.1500 as a fea­si­ble sup­port zone.

Dogecoin price
Doge­coin price

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