Technical Analysis: Dogecoin (DOGE) Price Consolidating After Recent Surge


Last week, Dogecoin (DOGE) rallied around 17% in just 2 days with a lot of volume behind the move. Since then, DOGE has been consolidating, however, the volume behind the pullback has been significantly lower.

Price chart of Dogecoin (DOGE)

The bulls are currently trying to hold both EMA’s which may form a bull cross if the bulls are able to keep up the momentum.

The most likely scenario looks to be DOGE setting a higher low and then most likely a lower high to form an Equilibrium pattern. The RSI is hovering around 50 points so it’s not really favoring anyone.

Similar: Ethereum (ETH) Could See a Steeper Pullback
Recent: Maker Partners With Loom Network to Bring Dai (DAI) to Additional Blockchains

Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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