Price Analysis

Dogecoin (DOGE) Appears Bearish; Fails to Retain the Support

  • Dogecoin, at the time of writing, was seen accumulating towards the cumulative low as it trades around $0.0026
  • The consistent lower highs formed over the past two years are seen consolidating downwards and forming an apex, although, higher than the original price of DOGE
  • The current trading price is not supported by any of the moving averages and holds a bearish divergence as the 200-day MA crosses above both, 100-day and 50-day MA
  • Dogecoin is presently less volatile and trades below 38.20% Fib Retracement Level

DOGE price trend forms consecutive lower lows on a 2-hourly chart as the coin slides downwards after hitting a fresh 90-day high at $0.0035.

Dogecoin Price Analysis:

Dogecoin (DOGE) Price News
DOGE/USD Chart By TradingView

Analyzing the weekly movement of DOGE/USD on HitBTC, we see that the coin is forming notable lower highs cumulatively. The price trend is seen moving towards the apex due to a continual downfall from each of the previous highs marked.

Dogecoin News

Comparing a 2-hourly against the weekly movement of Dogecoin against US Dollar, we see that the price is notably declining towards the 20-day lower Bollinger Band. The “death crossover” on the hourly chart is also a related reason as to why Dogecoin turns after having an impressive independent trade. This consistent dip has led the coin to slide below the 38.20% Fib Retracement level. However, DOGE is less exposed to upcoming volatility, as confirmed by the band width of the 20-day Bollinger Bands. The bearish divergence remains intact as the coin loses support and lacks momentum at present.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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