Dogecoin [DOGE] price analysis – 28th December: Opportunity for short term profit
After Christmas sell-off continues in the cryptocurrency markets as Bitcoin falls below $3,700 once again. According to Anthony Pompilano Bitcoin will go under $3,000 before the next bull run takes place.
Dogecoin, on the other hand, is showing some good signs for a short-term profit. Observed by Forecastcity on TradingView, Dogecoin is on the verge of getting into the buy zone.
According to Forecastcity,
- DOGE/USD is in a range bound and the beginning of uptrend is expected.
- The price is above the 21-Day WEMA which acts as dynamic support.
- The RSI is at 49.
There is a possibility of temporary retracement of DOGE/USD to support levels, giving traders short-term profits. The buy zone for Dogecoin is between $0.00230 and $0.00165. Dogecoin entered the buy zone a few hours back and had a temporary retracement, so the trend is more likely to continue.
Dogecoin is currently trading at $0.2357 and has a market capitalization of $255 million. The current trade volume of Dogecoin is $18 million. Doge/CNY is the biggest Crypto/Fiat pair for Dogecoin trading on FatBTC.
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
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