Analysis of Dogecoin Price
Dogecoin
DOGE
tickers down
0.3197 €
is trying to initiate a recovery, but the bounce lacks strength, suggesting a lack of demand at lower levels.
The moving averages have completed a bearish crossover, and the RSI remains in negative territory, indicating an advantage for sellers. If the price turns down from the current level and breaks below $0.30, the DOGE/USDT pair could drop to the 61.8% Fibonacci retracement level at $0.27. Buyers are expected to strongly defend the zone between $0.27 and $0.23.
On the other hand, a breakout and close above the moving averages will suggest that the bulls are attempting a comeback. The pair could then rise to $0.43.
