hello doge family how are you today doge lovers don't forget to like the video subscribe to my channel and turn on the notification bell before going into the details i work hard for the doge family i'm glad we will grow dogecoin together what i say in my graphic predictions are always correct friends i hope it will be useful for you i will determine the trading points for those who want to trade short and today i will tell you the important developments the safest option also the best bet for dogecoin traders the global cryptocurrency market buoyed by bitcoin's latest hike above 39 000 saw a four percent increase in market capitalization over the last 24 hours meme coins in particular seem to react strongly to this bullish sentiment in the likes of pepe cash ufo and 10 registered gains of 75 to 41 guys on the contrary dogecoin rose by just 1.2 percent and was overshadowed by its lesser counterparts moreover the formation of a pennant presented chances of an incoming decline charting doj's jump on the 26th of july and its movement thereafter underlined the formation of several lower highs at 23 cents 21 cents and 20 cents lower lows were made at 0.197 0.196 dollars and 0.193 dollars this formed the lower trend line of a pennant pattern doj's next low could be made at 0.192 but a close below this level would indicate severe downside to invalidate this outcome and to trigger a break to the upside doge would need to rise above its 200 sma green and the 27th of july swing high of 0.205 the directional movement indexes d crossed below its plus di after doge failed to flip its 200 sma to bullish this meant that the bulls had now seeded market control the stochastic rsi also reversed from the overbought zone and pointed to some more downside in the coming sessions the macd was also on the verge of a bearish crossover doge lovers i would appreciate if you like the video and subscribe to my channel together we will grow dogecoin conclusion guys while the aforementioned signs did not point to an immediate doge retracement it did mark the onset of a bearish trend which left the market vulnerable to a sharp decline traders should play safe and wait for a breakout above certain levels to initiate trades in the doge market it's been a mixed start to the day for dogecoin avoiding the day's pivot would bring 21 cents levels into play however dogecoin rose by 2.70 percent on wednesday partially reversing a 3.54 loss from tuesday dogecoin ended the day at 0.2015 after a mix the start to the day dogecoin fell to a late morning intraday low 0.1941 before making a move steering clear of the first major support level at 0.1910 dogecoin rallied to a late afternoon intraday high 0.2133 dollars coming up against the first major resistance level at 0.2132 dogecoin fell back to sub minus 0.2110 levels late in the day dogecoin tested the first major resistance level a second time before ending the day at sub minus 0.2020 levels at the time of video dogecoin was down by 0.23 percent to zero point zero two zero one zero dollars a mixed start to the day saw dogecoin rise to an early morning high zero point two one two one dollars before falling to a low zero point two zero zero nine dollars dogecoin left the major support and resistance levels untested early on dogecoin would need to avoid the 0.2096 pivot to bring the first major resistance level at 0.2052 dollars into play support from the broader market would be needed however for dogecoin to break out from wednesday's high 0.2133 dollars barring an extended crypto rally the first major resistance level would likely cap any upside in the event of another breakout dogecoin could test resistance at 0.2100 the second major resistance level sits at 0.2088 the fall through the 0.1996 dollars pivot would bring the first major support level barring an extended sell-off however dogecoin should steer clear of sub minus 19 cents levels the second major support level at 0.1904 should limit the downside looking at the technical indicator's first major support level 0.2010 pivot level 0.2056 first major resistance level 0.21 fib retracement level 0.3116.38.2 fib retracement level 0.3759.62 retracement level 0.5321 trading range and getting extremely tight for dogecoin breakout in doge usd soon dogecoin turned extremely bullish for about a month in april and may surging from around 5 cents until 74 cents that was very impressive for this new cryptocurrency which brought to life the sheba enu coin as a response to dogecoin although since may 8 the situation in dogecoin has been very disappointing and depressing for buyers doge usd reversed down in the second week of may although this cryptocurrency was finding some form of support at the 50 sma on the daily chart until the end of june and we saw a bounce from there but the 20 sma which was providing support during the bullish trend in spring now turned into resistance confirming that the trend had shifted to bearish the bearish trend resumed after the rejection at the 20 daily sma and the 50 sma and the 100 sma green were broken as a result this cryptocurrency continued down making lower lows in june and again in july that showed that the situation in dogecoin was really bad but the 200 sma purple held a support on this time frame chart despite being pierced although we know that cryptos are very volatile so don't expect the price to respect these levels exactly to the pip this moving average has been holding as support while pushing the lows higher recently but only marginally on the other hand the highs have been getting lower as well with the 50 sma acting as resistance now and pushing the price down so the range is getting extremely tight for this doge usd and a breakout is expected soon the price action points to a bearish breakout although if the sentiment in the crypto market continues to improve we might see a surge higher as well we might try to trade the breakout selling if the 200 sma gets broken or buying if the 50 sma gets broken to the upside which you can follow on our live forex signals page now dogecoin's use case as a payment method could potentially be on the rise too one doge fan and homeowner in the state of utah has put his home on the market for a listing price of 389 000 united states dollars the homeowner scott paul is at the helm of a company called woolly and according to reports as a cryptocurrency investor paul is willing to slash the price by 10 for a buyer who is willing to pay for the home in dogecoin he reportedly believes in dogecoin's future as as a payment method and he is looking to help the meme coin attain wide scale adoption bitcoin dominance the dogecoin price appears to be stuck at around the 20 united states sense level lately for its part bitcoin is hovering just below the 40 000 united states dollars threshold after climbing up from below 30 000 united states dollars just about two weeks ago bitcoin's dominance hovers at 46.2 percent and the leading cryptocurrency appears to still be calling the shots on the direction of the broader market while there are rivalries within the cryptocurrency community meme project baby dogecoin which was created in the wake of dogecoin has a message for its peers the baby doge coin team reminded crypto investors that they are really battling central banks not one another and that coming together is the way to win i will keep you informed of developments as soon as possible we've come to the end of the video guys i hope you understand what i want to say express your thoughts by commenting don't forget to like the video and subscribe to my channel see you in the next video

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