$DOGE 8% jump: Does it signal an end to the bear trend? - AMBCrypto Analytics

Dogecoin [DOGE] has been on a wild ride over the past four weeks. As the broader cryptocurrency market witnessed volatility, DOGE was also engulfed in the price swings, leaving investors concerned about its future.

DOGE’s price has dropped by 32% in the last two weeks. The descending trendline indicates a bearish market.

However, the recent price movements suggest a potential bullish reversal as the price has surged by 8% in the last 24 hours.

Dogecoin was trading at an average price of $0.1247 at press time. Its 24 hour trading volume stood at around $851.62 million, with a market cap of $18.03 billion.

The stochastic RSI indicates an oversold zone, which could precede a bullish reversal. However, the moving average convergence divergence indicator shows fading bearish momentum, as the recent bearish bars are fading with time.