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.
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