DOGE Price Analysis – February 27
DOGE moves above $0.053 and now hovering at $0.050. The coin may trade between $0.045 and $0.055 in this coming week.
Resistance levels: $0.070, $0.080, $0.090
Support levels: $0.035, $0.025, $0.015
DOGE/USD is currently hovering at $0.050 after recovering from the low of $0.048. DOGE can be expected to cross above the 9-day and 21-day moving averages and surge up to $0.060 in the next few weeks. Meanwhile, the current performance is yet to indicate the start of progressive trends ahead as the 9-day MA moves below the 21-day MA.
Where is DOGE Price Heading Next?
Looking at the daily chart, DOGE/USD remains with the symmetric triangle as the price moves below the moving averages. Meanwhile, the bears may be in control of the market if the price holds strongly below the $0.50 level. For now, there is a higher chance that the coin may remain on the negative side and it likely find support at $0.035, $0.025, and $0.015 if the coin crosses below the lower boundary of the channel.
Nevertheless, if the pair crosses above the moving averages, the resistance levels are located at $0.070, $0.080, and $0.090 respectively. In addition, the technical indicator RSI (14) is seen in a sideways movement.
DOGE/BTC Market: Remain intact within the Channel
Against Bitcoin, for the past few days, DOGE/BTC has been moving in a tight range. The monthly short opening has caused the price of Dogecoin to be moving not far away from the 9-day and 21-day moving averages. Traders may expect a bounce back to 120 SAT resistance. A further price push may set a bull-run for the coin along with the resistance level of 150 SAT and above.
Meanwhile, the market is currently indecisive but if the bears’ rally continues, traders can expect a break-down to the support level of 70 SAT, and below. As it appeared now, the trading volume is still very low and the 100 SAT level is more likely to produce a rebound for the market. Regardless of the above, the price of Dogecoin looks indecisive as the RSI (14) indicator moves above 50-level.