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DOGE Price Analysis for August 21

Price Predictions
Sat, 08/21/2021 - 14:25
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Denys Serhiichuk
Has DOGE accumulated enough power to keep the rise going?
DOGE Price Analysis for August 21
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The weekend has begun with the ongoing rise of the cryptocurrency market as most of the coins are in the green zone, except for Cardano (ADA), whose rate has declined by 1.32%.

Top 10 coins by CoinMarketCap
Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has increased by 2.18% over the past 24 hours.

DOGE/USD chart by Trading View
DOGE/USD chart by Trading View

On the hourly chart, DOGE is located in the sideways trend between the zone of the most liquidity at $0.32 and the resistance at $0.3360. The trading volume is going down, which means that the coin has not accumulated enough energy yet for a price blast.

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BTC, ETH, and XRP Price Analysis for August 19

In this case, one should not expect any sharp movement on the weekend.

DOGE/USD chart by Trading View
DOGE/USD chart by Trading View

On the bigger time frame, buyers are showing power after the decline to $0.28. If they can fix above $0.33, there is a high probability of seeing continued growth to the resistance level at $0.36 next week.

DOGE/USD chart by Trading View
DOGE/USD chart by Trading View

On the weekly chart, bulls have absorbed the decline and are about to close the candle near the resistance at $0.36. If such a scenario comes true, one may expect a rise next week to the next crucial mark at around $0.44. The rising trading volume confirms a possible price rise.

DOGE is trading at $0.3262 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.