DOGEUSD(4hr) : DOGE recovers after last month's drop

2021년 10월 6일

Market in the last 24hrs
The price seems to have to accept the upper Bollinger band as a resistance line and can be seen moving sideways in a consolidated momentum. Trading volume has been very high in the last 24 hours.

Today’s Trend analysis
The price is expected to move in a consolidated manner till it moves to the middle Bollinger band. After that, the price is expected to continue to move sideways until we see a huge change in trading volume which can cause high volatility as indicated by the gap between the upper and the lower Bollinger band.

Price volatility was low at approximately 1.94%, with the day's range between $0.243 — $0.272.
Price at the time of publishing: $0.258
DOGE’s market cap: $33.9 Billion

However, the Indicator summary is giving a 'BUY' signal on DOGEUSD.

Out of 11 Oscillator indicators, 0 are giving a SELL signal, 9 are neutral and 2 are giving a BUY signal.

Out of 15 Moving average indicators, 2 are giving SELL signal, 1 is giving neutral and 14 are giving a BUY signal.


Trading volume has been very high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The 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 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!