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Understand price campaign: a focus on Dogecoin (Doge)
In the world of cryptocurrency, understanding price measures is of crucial importance for well -founded investment decisions. Price action refers to the visual representation of market data, including trends, support and level of resistance as well as volatility. In this article we will deal with the world of Dogecoin (Doge) and examine the unique price action patterns.
What is doonecoin?
Dogecoin is a decentralized digital currency created in 2013 by Jackson Palmer and Billy Markert. It was originally developed as a joke, but was quickly obtained from enthusiasts due to its low transaction fees, user -friendliness and the municipal approach. Today Dogecoin has a market capitalization of over 10 billion US dollars and is therefore one of the largest cryptocurrencies on the market.
Price action pattern: A focus on Doge
When analyzing price action patterns in Dogecoin, we have to take several key elements into account:
- Support and resistance level : These are areas in which the price is historically impact or vice versa, which often leads to a back rim towards the upper or lower support level.
- Trend lines : These are lines that connect two points in the price diagram and help to identify trends and support levels.
- Volatility
: This refers to the degree of movement in price over a certain period of time. A higher volatility shows higher price fluctuations.
Doge Price Action Pattern
Here you will find an analysis of Doge price action patterns:
- promoted trend : In this pattern, the price increases consistently and the support levels are above the upper level of resistance.
- descending trend : Conversely, it can be a support level or experience a reversal trend.
Support and resistance level
The historical price campaign of Doge reveals several important support and level of resistance:
- $ 0.001 (lower support) : This level marks the lowest point of Dogy’s price campaign.
$ 2.
- $ 0.0005 (upper resistance) : An important support level that marks a potential reversal point for Doge.
Trend lines
Doges trend lines are not as prominent as in some other cryptocurrencies, but here are some remarkable examples:
- Horizontal trend line : This line connects two points in the price diagram and represents a consistent upwards or downward trend.
- Upper support level (UsL) : Support level above the price tends to recover.
Volatility
The historical volatility of Doge is relatively low, which indicates that price fluctuations are not as extreme as with some other cryptocurrencies.
- Average price volatility : The average daily price change of Doge in the last 30 days is about 0.5%. This indicates a relatively stable market environment.
- Maximum price volatility : The maximum price volatility of Doge is around 20%, which points out that price movements can be significant but not extreme.
Diploma
The understanding of Doge’s unique price campaign is of crucial importance in order to make well -founded investment decisions. By analyzing support and resistance levels, trend lines and volatility, retailers can identify potential purchase or sales signals and adapt their strategies accordingly. As with any cryptocurrency, it is important to carry out thorough research and take into account different market factors before investing.
Additional resources
In order to continue learning through Doge Price campaign pattern, we recommend the following resources:
- Coinmarketcap
: A leading cryptocurrency data platform that delivers historical price action diagrams for Doge.
- Cryptoslate : A cryptocurrency news agency with articles on Doge’s price campaigns and market trends.
Stay informed, stay before the curve and happy trade!