Get most of the Dogecoin (DOGE) EUR real-time price movement with interactive analytical tools to study chart patterns and trends. Chart references pair DOGE/EUR price from Kraken exchange.
About Dogecoin (DOGE):
The open-source digital currency was forked from Litecoin in Dec 2013. Dogecoin has a block time of 1 minute, and the total supply is uncapped, which means that there is no limit to the number of Dogecoin that can be mined.
Dogecoin’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.
Helpful technical indicators to study Dogecoin (DOGE) EUR price movement:
Technical Analysis through the use of charts or volume helps to forecast future DOGE/EUR price trends, however, do remember always that analysis can’t make absolute predictions about the future. Therefore, trade with caution.
The following are some of the technical indicators which could be useful for anticipating the most likely DOGE EUR price movement.
Moving average convergence divergence (MACD)
MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The result of that calculation is the MACD line. A nine-day EMA of the MACD called the “signal line” is then plotted in addition to the MACD line which together functions as a trigger for the Dogecoin token (DOGE) buy and sell.
Traders may buy the Dogecoin token – DOGE – when the MACD crosses above its signal line (orange line) and sell, or short, the DOGE token when the MACD (blue line) crosses below the signal line.
Another MACD strategy is to look at which side of zero the MACD lines are. Potential buy signals occur when the MACD moves above zero, and potential sell signals when it crosses below zero – Above zero for a sustained period of time, and the trend is likely up or Below zero for a sustained period of time, and the trend is likely down.
Relative Strength Index (RSI)
RSI is an indicator that evaluates overbought or oversold conditions in the price of an asset. The RSI is a line graph that moves between two extremes and has a reading from 0 to 100. Traditional usage of the RSI is that:
- Values of 70 or above indicate that an asset is becoming overbought and trade pair DOGE/EUR may experience trend reversal or price correction.
- An RSI reading of 30 or below indicates an oversold or undervalued condition.
Dogecoin token – DOGE EUR price Moving average (MA)
MA is the average of the closing EUR price of an asset – DOGE over a given number of periods (hours/day) in the chart. The 200-day simple moving average is one of the most-watched activities in the price chart by mostly all experienced traders. There are two basic signals in relation to the moving average:
- If the price is above the X day SMA, this signals a bullish movement.
- If the price is below the X day SMA, this signals a bearish movement.
MA(50,200) Crossover
Another important signal is a crossover between the 50-day and the 200-day moving averages.
- Essentially, a bullish crossover (the 50-day MA moving above the 200-day MA) is called a golden cross and it signals that a new bullish chart for the DOGE/EUR price is starting.
- A bearish crossover (where the 50-day MA crosses below the 200-day MA) is known as the death cross. This is a sign that a bear market may be starting.
On-balance volume (OBV)
OBV is another technical trading momentum indicator that uses volume flow to predict changes in the stock price. A rising price should be accompanied by a rising OBV; a falling price should be accompanied by a falling OBV.
- If OBV is rising and the price isn’t, then the price is likely to follow the OBV.
- In case the Dogecoin (DOGE) token price against EUR is rising and OBV is flat-lining or falling, the price may be near a top.
- If the Dogecoin token DOGE price against EUR is falling and OBV is flat-lining or rising, the price could be nearing a bottom.
Chart Patterns
- Head and Shoulders
- Cup and Handle (bullish)
- Triangles (Symmetrical, Ascending and Descending)
- Double top and bottom [M (bearish) and W (bullish)]
- Triple Tops (bearish) & Bottoms (bullish)