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We looked at Dogecoin (DOGEUSD) on the daily timeframe; many bearish signals starting to develop.
Today, we are going to be looking at the 4h timeframe where we can gain additional information as to what is going on with this market/pair.
First, we notice how DOGEUSD went to test EMA200 as support after breaking below EMA100 back in April.
This same scenario...
Looks like Dogecoin (DOGEUSD) has gone up for a while now printing massive growth...
We have multiple bearish signals starting to develop on this chart.
Today, we can see DOGEUSD moving below EMA10.
EMA21 has already been tested as support... The next time it is hit it is likely to break.
We have bearish divergence with the RSI, same on the weekly...
Currently, the markets for DOGE are settling down and it is in correction.
Comparing both MACD and RSI for the recent one month, buyers should wait for a time once the 12 (Blue Line) and 26 (Orange Line) MACD breaks again on a positive note at below 0.020 level. Again RSI also falling down to neutral.
For holding it is in a safer zone, and for buyers please...