FX.co ★ Technical Analysis of Intraday Price Movement of Doge Cryptocurrency, Friday August 02, 2024.

If we look at the 4-hour chart, the Doge cryptocurrency appears to be moving in a weakening condition, which is also confirmed by its price movement which is moving in the Bearish Pitchfork channel and is below the EMA 20 & EMA 50 which is also in line with that the EMA 20 is below the EMA 50 and the Momentum indicator is also below level 100, where all of this gives an indication that Sellers are currently very dominant, but we need to be aware of the appearance of deviations between the Doge price movement which forms a Lower Low while the Momentum indicator makes a Lower High so that in the near future there is a potential for a strengthening correction in the cryptocurrency, but as long as it does not broken above the level of 0.12328, Doge will weaken again down to level 0.11208 and level 0.10600 if momentum and volatility support.

(Disclaimer)