Main Points:
China -based pork processing company and Bitcoin Miner Bit’s origin is said Monday that it has completed taking 40.5 million Dogecoin (Doge) for its crypto treasury. Earlier, the company said on July 17, aimed at becoming the largest Doge’s Doge. For this reason, the firm has entered into agreements with investors to raise $ 500 million through a combination of shares offering and debt offerings.
Can the demand of Doge Treasury increase, the higher the prices? Let’s review the charts to find out.
Dogecoin’s price prediction
The Doge is bound between $ 0.14 and $ 0.29 for many days, indicating the purchase near support and sale near the resistance.
The price turned away from $ 0.29 on Monday and reached near the 20-day simple transfer of average ($ 0.21) on Thursday. Consumers are trying to start a rebound, which can deal with the sale of $ 0.26 and again at $ 0.29. If consumers are yelling their way, the Doge/USDT pair can signal the start of a new move. The pair can rally toward the target pattern of $ 0.44.
Instead, if the price drops and breaks below the 20-day SMA, it is a sign that the bulls surrendered. That can keep the pair within the range for more time.
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The 20-SMA began to turn away, and the RSI was in the negative territory, indicating that the bear had an upper hand in the near term. Relief rallies at 20-sma are likely to be sold. If the price drops from the 20-sma, the pairs are at risk of falling to $ 0.21.
The first sign of strength will be close to the top of the 20-sma. That suggests that the sale of pressure is reduced. The pair can rally at $ 0.27 and later at $ 0.29, where bears are likely to mount a strong defense.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
