Price Analysis

Dogecoin (DOGE) Takes a Considerable Dip; Appears Moderately Bearish

  • Dogecoin trades at $0.00196—marks a fresh 90-day low
  • The trading price of Dogecoin at press time is slightly supported by 10-day and 50-day MA
  • The coin marks a notable downtrend of over 8% in just two days

Dogecoin price is a clear demarcation of the bearish trend as it has hit the major support level at $0.0020 and trades at $0.00196. There has been a rapid slip from $0.00214 to the current trading price range. The 10-day and 50-day moving averages have been moving adjacently and the 50-day MA records a drop as there has been no instance of price rise for a long time now.

Dogecoin Price Prediction:

DOGE Price Analysis
DOGE/USD Chart By TradingView

Taking a glance at the 2-day movement of DOGE/USD on HitBTC, we see that the coin is bottoming out at $0.00196. The coin has recorded a fall of over 8% in 2 days and a further anticipated fall can lead to a fresh 52-week low. Although the degree of fall has been quite considerate as compared to other altcoins. However, this does not mean that the coin fill curb the further dipping movement and with this, the next immediate support lies around $0.0018.

Technical Indicators:

Dogecoin lost the 200-day moving average support as it took a dip below $0.0021 and has slight from 10-day and 50-day MAs.

The MACD of DOGE is seemed to be approaching the zero line and holds a bearish outlook.

The RSI of the coin is at 47.22 and moves moderately volatile, also holds no extremities at present.

Tags

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button
Close