Mudrex Price Analysis #283 Dogecoin (DOGE/USD) – 11th June 2021

This is DOGEUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hr candles.

You can find price analysis from previous days in our price analysis section and on Tradingview here.

Analysis Summary

Market in the last 24hrs

  • DOGEUSD witnessed a tepid trading volume. Price has taken support of the trend line multiple times.

Today’s Trend analysis

  • DOGEUSD seems to be under some pressure. Price is likely to face a squeeze from the Bollinger Bands.
  • The decrease in the trading volume has not been encouraging for the short term traders either. 
  • Price volatility remained moderately low at approximately 2.8%, with the day’s range between $0.318 – $0.327.
  • Price at the time of publishing: $0.321
  • DOGE’s market cap: $41.8 Billion
  • Oscillator indicators are mostly neutral but are suggesting a bearish trend. 
  • Moving average Indicators are giving a strongly bearish view. 

Price is expected to continue the bearish trend. Volatility will likely remain low in the smaller time frame. Most of the Oscillator indicators are neutral with slight indication of a bearish momentum. 

DOGEUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. Moving Average indicators are suggesting a strongly bearish momentum.

Definition:- Oscillator indicators are based on the market’s property that what goes up must come down. Reversion to the mean is one of the most fundamental properties of any market. Oscillators are predictive in nature, specifying future price momentum.

Relative Strength Index (14)34.6Neutral
Stochastic %K (14, 3, 3)15.5Neutral
Commodity Channel Index (20)-131.3Neutral
Average Directional Index (14)27.69Neutral
Awesome Oscillator-0.021Neutral
Momentum (10)-0.0257Sell
MACD Level (12, 26)-0.008Buy
Stochastic RSI Fast (3, 3, 14, 14)9.82Neutral
Williams Percent Range (14)-96.74Neutral
Bull Bear Power-0.014Neutral
Ultimate Oscillator (7, 14, 28)42Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating a strong downtrend. 

Definition:- Moving Average indicators are lagging indicators that help catch trends when they are beginning to take effect. The idea is to buy when the trend is moving up and sell when the trend is falling.

Exponential Moving Average (10)0.33Sell
Simple Moving Average (10)0.328Sell
Exponential Moving Average (20)0.334Sell
Simple Moving Average (20)0.324Sell
Exponential Moving Average (30)0.337Sell
Simple Moving Average (30)0.3378Sell
Exponential Moving Average (50)0.3438Sell
Simple Moving Average (50)0.3549Sell
Exponential Moving Average (100)0.35489Sell
Simple Moving Average (100)0.337Sell
Exponential Moving Average (200)0.362Sell
Simple Moving Average (200)0.3549Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)0.335Neutral
Volume Weighted Moving Average (20)0.329Sell
Hull Moving Average (9)0.3196Buy

Trade volume

In the recent few candles, the traded volume observed was decreasing. It suggested that the traders might be in a cautious mode and waiting for a confirmation about the direction. 

If you want to know more about technical analysis, you visit our blog on the introduction to technical analysis. Read more about crypto investments and a lot more on our blog.

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