Dogecoin Price Analysis: Will The Listing On Coinbase Take The Doge Token Price To Moon ?

  • Dogecoin was recently listed on the Coin base professional trading platform. It helped the price to see a jump of 12% in the intraday session
  • The price has recently broken above the parallel channel. It suggests an uptrend for the DOGE price in the near future.

Doge token price is currently trading  at $0.3675  with a gain of 12% in the last 24 hours . The gain in the price is due to the coinbase listing it the DOGE in its professional trading platform. Coin base Pro said in a blog post that the people can deposit their DOGE in their professional wallet. If the liquidity conditions are met then trading can be expected to launch on this Thursday. Coinbase has not officially announced whether they will be adding it on their retail platform or not. It is expected that within a few weeks coinbase might list Dogecoin on their retail trading platform.

Dogecoin token is placed at 6th position according to its market capitalization. The market dominance of the DOGE has reached to 2.5%. In contrast the volume of the coin has also seen an increase of 129%.

Technical Indicator Hints At Strong Uptrend In The DOGE Token Price

Source: Trading view
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DOGE token price is starting to show a positive recovery . The price is showing a bullish strength on the weekly chart. It is currently trading above 50 and 100 Exponential Moving Average. The 50 EMA price is currently acting as a temporary support for the price. Dogecoin has given a break out from the downside parallel channel. It hints at an uptrend for the price in the upcoming days. DOGE/BTC pair is also observing an uptrend and can see a 50% gain in the near future.

The volume indicator  for the Dogecoin is hinting at a small selling pressure on the daily chart. A buying volume surge in the price can be expected.

MACD (Neutral): MACD is currently in the bearish zone. The signal line of the MACD can see a positive crossover in the upcoming days.Bars of the histogram are also of decreasing length in the bearish region, which hints towards an uptrend.

Conclusion

DOGE token has recently been listed on the professional trading platform of Coin base. It pushed the price to a 12% high.  Meanwhile, there is a long way for the Doge price to go.An Investor should do their due diligence before investing.

TECHNICAL LEVELS

Major Resistance:$0.52

Major Support:$0.1

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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