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DOGE Price Analysis for July 29

Sat, 07/29/2023 - 18:00
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Denys Serhiichuk
Is it possible to see upward move of DOGE soon?
DOGE Price Analysis for July 29
Cover image via www.tradingview.com

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Neither bulls nor bears are dominating on the first day of the weekend.

Top coins by CoinMarketCap

Top coins by CoinMarketCap

DOGE/USD

The price of DOGE has increased by 1% over the last 24 hours.

DOGE/USD chart byTradingView

Image by TradingView

On the hourly chart, the rate of DOGE is in the middle of the local channel. Any sharp moves are unlikely until the end of the day as most of the ATR has been passed.

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Respectively, ongoing sideways trading between $0.077 and $0.078 is the more likely scenario.

DOGE/USD chart byTradingView

Image by TradingView

On the bigger time frame, the situation is unclear as the rate of DOGE does not have enough energy to grow or fall. Traders can only think about a bullish trend reversal if the price fixes above the $0.08 mark.

DOGE/USD chart byTradingView

Image by TradingView

On the weekly chart, the candle is about to close above the important level at $0.07547. If that happens, buyers might locally seize the initiative, which can lead to a rise to the $0.085-$0.09 area next month.

DOGE is trading at $0.07780 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.