Long-term analysis of the price Dogecoin

The pair Dogecoin / Bitcoin started the bullish race on December 24, 2017, when the resistance level of 0.0000005 was broken. The momentum was so strong that in two weeks the cost increased more than 2 times. On January 7, 2018, the market reached 0.00000114. Nevertheless, at this price the market was on the extremely overbought territory. Traders who bought on the break 0.0000005, took the opportunity to profit.

As of the beginning of sales 8 January, the market went down below 0,000001. The price continued to fall on February 2, when the market fell to 0.00000035. At this price level, the bulls revived and returned the market to 0.00000051. Price movement on this day may mean the end of the correction.

Technical analysis shows that the market creates a bullish setting with the support of 0.0000005. On February 2, the price created a massive hammer candle, which indicates the presence of buyers. In addition, on this day the volume increased to 1003 bitcoins, while the average daily volume is about 200 bitcoins. This suggests that the market capitulated.

The strategy is to wait for the market to stabilize at 0.0000005. If the bulls protect this level, the market is likely to resume its rise to 0.000001. This process may take two months.

At the moment on Poloniex exchange Last Price 0.00000055