Price Analysis

Dogecoin Faces a Firm Resistance Above $0.0023; Hits a Fresh 30-day Low

  • Dogecoin gives a fresh 30-day low around $0.0021 price area
  • The coin is supported by the 10-day & 50-day MA after rising from $0.0020
  • There has been a rapid fall of Dogecoin value in 5 days from $0.0023 to $0.0021

Dogecoin trades with moderate volatility just like any other altcoin in the market as the price slips from $0.0023 to $0.0021 after hitting $0.0020. DOGE price currently holds a narrow movement and a rejection above $0.0023 price area. It was just yesterday when the two extreme prices were hit at $0.0023 and $0.0020. The market cap and 24-hour volume also noticed a gradual fall with this.

Dogecoin Price Prediction

Dogecoin
DOGE Chart By TradingView

Analyzing the Dogecoin to USD 5-day price movement on HitBTC, we see that the currency experienced a rapid fall from $0.0023, giving lower highs. The declining wedge took the price of Dogecoin to trade at the bottom price area around $0.0020. However, the moderate bearishness still exists as the coin is moving with inactive supports and lack of powered resistance above $0.0023 at present. As observed, the RSI of the Dogecoin has also remained inclined majorly towards the oversold region in the past five days. Unfortunately, there is no price consolidation above $0.0025, which is ultimately leading to a lack of supports from the long-term MAs.

Technical Indicators:

The MACD of Dogecoin is running bearishly below zero as it trades at $0.0021, recording over an 8% downfall from the resisting price zone.

While, the RSI is at 58.30 and shows no extremities at present, after having rose from the oversold region.

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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.
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