- Recent DOGE price analysis reveals that it has been on a downward trend.
- DOGE loses 6.73 % of its recovered value.
- DOGE is supported at $0.1133 and $0.1267 as resistance
Dogecoin (DOGE) has suffered a substantial dip in price in recent hours after facing resistance at $0.1267. During the plunge, DOGE found support at $0.1136 and is currently trading at $0.115, a 6.73% decrease.
DOGE market capitalization fell 5.76% in the previous 24 hours to $15,298,048,244, while trading volume increased by 0.39% to $1,367,637,525.
DOGE/USD 1-day price chart (Source: CoinMarketCap)
The Chaikin Money Flow (CMF), which signals a negative trend when it is less than zero “0,” has a reading of -0.10 and is pointing south, indicating a possible continuation of bear control in the DOGE market.
The Bulging Bollinger Bands on the 2-hour price chart imply tremendous selling pressure, with the upper band touching 0.13015 and the lower band touching 0.11398. The market price is below the bottom range, supporting this negative trend.
With a reading of -0.00301, the Moving Average Convergence Divergence (MACD) moves below the signal line and is in the negative region. This MACD movement suggests that the downturn in the DOGE market may endure.
DOGE/USD 2-hour price chart (Source: CoinMarketCap)
The RSI is at 33.98 and going south as it approaches the oversold level. The Stoch RSI, which currently stands at 26.58, follows a similar pattern. These changes in both indicators point to a continuation of the market’s bearish trajectory.
DOGE/USD 2-hour price chart (Source: CoinMarketCap)
Bulls must intensify their pricing pressure to invalidate the recent downward trend in the DOGE market.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
The post Downturn Evident in DOGE Market as Bears Pull Prices Down by Over 6.73% appeared first on Coin Edition.