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Dogecoin price analysis: DOGE declined from $0.147 as bearish momentum overgrows

Dogecoin price analysis DOGE declined from as bearish momentum overgrows

TL;DR Breakdown

  • The latest Dogecoin price analysis is going bearish.
  • Cryptocurrency price has reduced up to $0.144.
  • Support for DOGE is present at the $0.142 level.

The Dogecoin price analysis shows that the cryptocurrency has undergone loss once again. After the bullish price function of yesterday, the bearish pressure has returned, and bears have taken the lead again. The bears have caused a decrease in the price up to $0.144 and have been able to retain their position as the leading party.

The high selling activity is causing the price to downgrade further and has defeated the buyers in their attempt at revival. The overall cryptocurrency market is under bearish pressure as most coins are reporting losses today.

DOGE/USD 1-day price chart: DOGE price levels continue sinking

The 1-day price chart for Dogecoin price analysis shows that a drop in the DOGE price value has taken place today. There have been some bullish efforts in the past week as well, as there are some green candlesticks visible as well. But the bears have been mostly at the lead throughout, and they are still succeeding in maintaining it as the price has gone down to $0.144 today after the recent drop. Overall the coin has lost a value of 7.11 percent over the past week.

Dogecoin price analysis: DOGE declined from $0.147 as bearish momentum overgrows 1
DOGE/USD 1-day price chart: Source: TradingView

The volatility, on the other hand, is high, which is also a negative indication for the Dogecoin future in the current scenario. The upper and lower values of the Bollinger bands represent the strongest resistance and support for the coin as they are settled at the following points; the upper value is at $0.161, while the lower value is at $0.131. The Moving Average (MA) is standing above the current price as well, which is at the $0.152 level. The Relative Strength Index score is present at the lower neutral level of index 42 at the time of writing.

Dogecoin price analysis: Recent developments and further technical indications

The 4-hours Dogecoin price analysis shows that the price function is headed down once again as the price levels are continuously sinking. The bears are pulling down the price levels, and currently, they have reached the $0.144 level as DOGE/USD still looks for support.

The moving average is still trading above the current price level at $0.147 because of the bullish efforts that followed yesterday. The short-term trending line is steeply downwards, which is a major bearish signal.

Dogecoin price analysis: DOGE declined from $0.147 as bearish momentum overgrows 2
DOGE/USD 4-hours price chart. Source: TradingView

As the volatility is also high on the 4-hour chart, the upper Bollinger band value has is at the $0.155 value, whereas the lower Bollinger band value is at the $0.140 level. The RSI graph is also showing downward movement, as the score has decreased considerably today and has reached down to index 40 in the lower half of the neutral zone.

Dogecoin price analysis conclusion

The Dogecoin price analysis is reporting that a bearish activity has occurred today as well. The price levels have moved down to $0.144 in the last four hours. DOGE is still looking for the support, which is present further below at $0.142, where bulls must hold onto, to stop further damage.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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