Dogecoin Set For Heightened Downtrend After A Rejection At $0.1293

Quick Summary:

It can be observed that the crypto asset is still trading below the 100-day SMA and is currently attempting a bearish move toward the $0.114 support level with a strong bearish momentum.

Based on these current price actions, the digital asset may be poised to maintain its bearish sentiment and could potentially extend its bearish move toward the $0.1144 support level.

The formation of the 4-hour Composite Trend Oscillator also suggests a potential bearish continuation for the crypto asset as the signal line has crossed below the SMA of the indicator in the overbought zone attempting to move out of this zone.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: United KingdomNigerNigeria

Topics: Composite Trend Oscillator Simple Moving Average SMA Dogeusdt Dogeusd Doge Dogecoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-16 @ 15:00:04 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 478 words

Reading Time: 3 minutes read

Sentences: 70 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 21654378

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 9 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 12 hours ago

Coverage Areas: United Kingdom

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