DOGEUSD: Consolidation May Be Good Indicator for Dogecoin Crypto Forex
Enter your emailDOGE/USD curiously has displayed a rather consolidated price range the past week of trading, and this will prove an intriguing speculative decision for speculators.DOGE/USD is trading near 12 and a quarter cents as of this writing and is in the middle of its one week price range.
Proving that it is a solid barometer before of speculative fever in the broad cryptocurrency market, the notion that DOGE/USD has not been leading the pack in one direction is rather noticeable. It can be argued that DOGE/USD is no longer the darling of the speculative cryptocurrency crowd. What if DOGE/USD is now merely following in the footsteps of the larger cryptocurrency world, and traders are waiting to buy Dogecoin only if higher prices can be sustained in the other major cryptos like Bitcoin, Ethereum and more?
One thing is certain, DOGE/USD will not continue to merely trade within this current 12 cents price band. If DOGE/USD were to break below the 0.11850000 mark, this could be a sign that the 0.11650000 ratio could be tested promptly. Remember a change of one cent in DOGE/USD almost equates into a 10% change of value depending on its price ratios, so solid risk taking tactics are always needed.
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