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Dogecoin (DOGE) Analysis: Dogecoin Gains of 123% In A Week

Long
BINANCE:DOGEUSD   Dogecoin / US Dollar (calculated by TradingView)
While looking at the Dogecoin weekly chart, it has a resistance of $0.0107 with the support level of $0.0061. The price is currently hovering near the resistance level and struggling to give a breakout to form a bullish trend again.

Concerning the Moving Average Convergence Divergence ( MACD ), the levels intersected the signal line on Wednesday's trading session and moved very close to it. The histogram also started to form tiny green bars Intimating that the trend remains bullish .

According to the Relative Strength Index ( RSI ) 55, indicating coin is in a sideways phase. A short ascending parallel channel is visible in the index. Suppose it gets close to the value of 70, which is an overbought zone. One can see a positive trend again.

The Schaff Trend Cycle ( STC ), 98.43, also indicated a buying signal in the coin on Wednesday's trading session which is also a positive sign for the buyer's and the coin can move upwards.
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