The trader believes that now is a good time to buy Dogecoin (DOGE) by CoinEdition


The trader believes that now is a good time to buy Dogecoin (DOGE).
  • Crypto Rover, a trader and analyst, shared in a tweet this morning that he’s been raking in DOGE.
  • The price of the meme coin has been printing higher lows over the past few months.
  • At the time of publication, CoinMarketCap indicated that the DOGE price has experienced a slight loss over the past 24 hours.

A cryptocurrency trader and analyst by the name of Crypto Rover shared a tweet this morning that he is bullish on DOGE after the meme coin managed to print higher lows over the past few weeks. However, over the past 24 hours, DOGE was one of the many cryptocurrencies that suffered losses ahead of the weekend.

The cryptocurrency market tracking website, CoinMarketCap, noted that DOGE was trading at $0.07343 after a slight 0.05% price drop over the past day. This means that DOGE was trading near its daily low of $0.07323 from its daily high of $0.07396.

The drop in the price of DOGE has also weakened the meme coin against the two market leaders, (BTC) and (ETH). At press time, DOGE is down 0.22% against BTC and down against ETH by 0.38%.

The decline in DOGE’s price wasn’t enough to bring its weekly performance back into the red, as DOGE at the time of writing is up 1.77% over the past seven days. Meanwhile, the 24-hour trading volume suffered a more than 50% loss over the past day, reaching $137,654,992.

DOGE/USDT Daily Chart (Source: TradingView)

DOGE price recently regained a position above the 9-day EMA line and was looking to do the same with the 20-day EMA line. However, the slightly negative slope of the daily RSI line indicates that BTC has lost some bullish momentum and will not be able to overcome the longer EMA level.

If the bulls intervene before the end of today’s trading session, there is still a possibility that BTC price will turn the resistance at $0.07737 into support. It may also appear to do the same with the next resistance level at $0.08193. Conversely, a close below the 9-day EMA line today could send BTC down to $0.06926 in the next 48 hours.

Disclaimer: Opinions and opinions, as well as all information shared in this price analysis, are published in good faith. Readers should do their research and due diligence. Any action taken by the reader is at their own risk. Coin Edition and its affiliates will not be liable for any direct or indirect damage or loss.

The post that a trader thinks now is a good time to buy in Dogecoin (DOGE) appeared first in the Coin issue.

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