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24.02.202308:09 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Doge Cryptocurrency, Friday February 24, 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 24.02.2023 analysis

Even though on the 4-hour chart the Doge cryptocurrency can be seen from the MA which is still crossing negatively and the CCI indicator is below the 100 level which all indicates that the sellers are still dominating quite strongly in Doge but the Bullish Fair Value Gap area level seems to act as a sufficient support area well as well as the appearance of the Failing Wedge pattern provides an indication that Doge has the potential to be corrected to rally up and up as long as it doesn't return to its original bias, especially not to break below the 0.07949 level, then Doge will try to break above the 0.09026 level. If this level is successfully broken, then the main target will be tested by Doge is the level of 0.09189 and if the momentum and volatility are supportive then the level 0.09828 will be the next target.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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