- Bulls have lost control over Dogecoin’s price trend; the coin trades with extreme bearish momentum
- Dogecoin has formed a lower high pattern noting a negative sign for the price trend
Dogecoin clearly shows a sloppy downtrend, which it has experienced for the whole month. However, DOGE is not the only crypto coin that is facing such an extreme bearish trend as the overall crypto market is currently going through quite a rough patch.
Dogecoin Price Prediction
Since mid-November, Dogecoin has breached major support levels near $0.0025 and $0.0021. On the other hand, Bitcoin has also exhibited a massive downtrend over the last 30 days, but today’s price movement of BTC is optimistic.
On November 13, the coin had seen an opening price of $0.0026, and from there, it managed to have a close above $0.0027. Facing a rejection above the mentioned price range, Dogecoin started a price drop while forming lower highs.
The bearish trendline was intact while the currency breached below 0.00260, $0.0024, and even $0.0022. Recently, Dogecoin has managed to strike a rebound above $0.0020 and is currently trading at $0.00209 at 09:07:32 UTC.
Dogecoin price is likely to see a less volatile phase as Bollinger bands appear narrow at present. RSI is at 46 in the neutral zone showing no extremities. The coin has been under selling pressure for quite a long time now as it deals with the bearish impact.