• Dogecoin price analysis shows bearish trend

  • DOGE price has resistance at $0.07677

  • DOGE price has support at $0.07339

    Today’s Dogecoin price analysis shows that DOGE is currently in a consolidation phase around $0.07493. This comes after the currency’s value fell sharply from its all-time high of $0.770 on March 23. Despite the recent price drop, Dogecoin remains one of the most popular cryptocurrencies on the market. Resistance for the DOGE/USD pair is currently located at the $0.07677 level, but the bearish sentiment in the market is making it difficult for buyers to break through this level. On the downside, there is strong support around $0.07339, and if the price falls below this level, it could fall further. The 24-hour trading volume has also dropped by over 33.91% and is now $408 million, while the market capitalization currently stands at $9.94 billion.

Dogecoin Price Analysis 1-day chart: DOGE faces losses after depreciating to a maximum of $0.07493

1-day Dogecoin price analysis shows that the coin is currently in a bearish market sentiment. The market decline turned bearish after Dogecoin failed to break the $0.07677 resistance level, and if the selling activity rises further, it will depreciate further. The moving average (MA) value, which is $0.0750, is used for the one-day price chart.

Volatility is increasing, which is a relatively negative indicator for future market trends. The upper Bollinger Band value is now $0.0795, while the lower Bollinger Band value is $0.0660. The Relative Strength Index (RSI) indicator is currently trading at 49.62 and heading towards the oversold territory, which is another sign that prices may fall further in the short term.

DOGE/USD 4-hour price chart: recent updates

The hourly Dogecoin price chart indicates that the coin is trading inside a descending triangle pattern. The price is facing a strong rejection near the $0.07677 resistance level and further declines are expected as long as this holds. The digital asset has lost nearly 2.25% of its value in the past 24 hours and it remains to be seen if the bulls can turn the tide. The moving averages are also in favor of the bears as the 100 SMA is below the 200 SMA in a bearish arrangement.

Technical indicators remain bearish, including the RSI, which is falling below the 50.00 level. The Relative Strength Index (RSI) indicator is currently trading at 49.73 and heading towards oversold territory, which is another sign that prices could fall further in the short term. The Bollinger Band width is also contracting, which could indicate that the coin could see a breakout soon.

Dogecoin Price Analysis Conclusion

In conclusion, Dogecoin price analysis suggests that if the bears maintain the current momentum and the selling pressure remains strong, the coin could crash. The bears are struggling to maintain the momentum high and have succeeded in causing the price to drop to the $0.07493 range. However, if the bulls can build enough momentum in the coming days, the price could rebound.