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In the cryptocurrency market, led by Bitcoin, a process is unfolding that causes many investors to feel fear and anxiety. Especially after the halving event, the expectation of a rise continues to decrease day by day. However, during this period, many memecoin projects continue to come to the forefront, one of which is Dogecoin. So, what is expected for Dogecoin in the coming period? Let’s examine together.
Dogecoin Chart Analysis
The four-hour DOGE chart continues to provide important clues for investors with its rising channel formation. Accordingly, after touching the last support line, DOGE managed to surpass the EMA 9 (blue line) average but has yet to cross the EMA 21 (green line) average.
The most important support levels to follow on the four-hour DOGE chart are; 0.1481 / 0.1442 and 0.1388 dollars respectively. Particularly, a four-hour bar closing below the 0.1481 dollar level, which intersects with the EMA 9, could cause DOGE’s momentum to decrease and create selling pressure.
The most important resistance levels to watch for DOGE on the four-hour chart are; 0.1508 / 0.1545 and 0.1589 dollars respectively. Especially, a four-hour bar closing above the 0.1508 dollar level, which intersects with the EMA 21, could increase DOGE’s momentum and create significant opportunities for investors.
DOGE/ETH Chart Analysis
The four-hour DOGE/ETH chart shows a falling channel formation, and DOGE continues to lose value against Ethereum day by day. This chart is of great importance in the Ethereum ecosystem and the increasing selling pressure could create buying opportunities for DOGE.
The most important support levels to follow on the four-hour DOGE/ETH chart are; 0.00004492 / 0.00004408 and 0.00004335 ETH respectively. Particularly, a four-hour bar closing below the 0.00004492 ETH level, which also served as support on April 14, will cause DOGE to lose value against Ethereum.
The most important resistance levels to watch on the DOGE/ETH chart are; 0.00004568 / 0.00004658 and 0.00004734 ETH respectively. Especially, a four-hour bar closing above the 0.00004568 ETH level, which intersects with the EMA 9, could prevent DOGE from gaining value against Ethereum.
