DOGE price analysis: Targeting 0.1755 - 0.1815 on rebound

The price is in a downward trend over the past 24 hours after rebounding from the peak at 0.18447. By R. Sharma.

Hello traders,

The cryptocurrency is currently trading at $0.1714, showing a slight recovery after hitting a low of $0.1670 earlier today. The currency had rebounded from the peak at $0.18447 in the past 24 hours.

As the RSI (6) is at 44.05 and the MACD is at 0.00002, both indicators are indicating a possible upcoming bullish reversal. Additionally, the Stochastic indicator K is at 33.23 and D is at 27.11, signaling a potential upcoming bullish crossover.

The current lowest support is at $0.1670, which should be monitored as a strong area for any rebound. If the price can break the $0.1755 level with a strong candlestick close on the H1 chart, then we may see a move towards $0.1815 again.

At the moment, the currency is in a corrective phase, with slight technical signals hinting at a potential rebound. However, traders are advised to use caution while waiting for confirmation of upward movement.

In other cryptocurrency news, a new study by the University of Cambridge has found that the total number of cryptocurrency users in 2022 was around 4.01 billion, which is about half of the world's population. The study also found that the most popular cryptocurrency exchange in the world is Binance, which is used by an estimated 122 million users.

The study's findings are based on an analysis of data from a variety of sources, including exchange platforms, social media, and government statistics. The researchers used a multi-stage sampling method to ensure that their findings were representative of the overall population of cryptocurrency users.

The study's findings have implications for both the cryptocurrency industry and the broader economy. The widespread use of cryptocurrencies is a relatively recent phenomenon, and it is still unfolding. The study's findings provide valuable insights into this rapidly evolving domain.

Overall, the study found that the cryptocurrency industry is large and growing rapidly. This growth is being driven by a number of factors, including the increasing popularity of cryptocurrencies among consumers, the development of new and innovative cryptocurrency products and services, and the entry of major institutional investors into the cryptocurrency market.

The study's findings are sure to be of interest to anyone who is following the cryptocurrency industry. They provide a unique and valuable perspective on this rapidly evolving market.

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The post Is a DOGE rebound possible? appeared first on Bitcoiner.

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News data source: kdj.com

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