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Dogecoin price analysis: Bears maintain downtrend as price decline to $0.115

Dogecoin price analysis Bears maintain downtrend as price decline to

TL;DR Breakdown

  • Dogecoin price analysis supports bears.
  • The price has been lowered to $0.1159.
  • Support for DOGE is found at $0.1151.

The latest Dogecoin price analysis shows signs of a downtrend, as the price underwent a substantial decline in the last 24-hours. If we analyze the market situation from a general overview, the past few weeks have proved to be highly unsupportive for the buyers. A constant downtrend has been on the rise, and a similar trend has been observed even today. But this negative situation has provided an opportunity to the buyers waiting for a lower price, as the market price of DOGE/USD has come down to a $0.115 low.

DOGE/USD 1-day price chart: bearish activity at peak as price levels shrink further

The one-day Dogecoin price analysis confirms a bearish trend for cryptocurrency, as the DOGE/USD value, is going through a drop. A considerable degree of downfall in coin value is being detected due to rising bearish pressure. If the sellers remain persistent, it can be predicted that the price will lower further in the next few weeks. The price is now standing at $0.115, which is a relatively lower level if we compare it to its moving average (MA) value of $0.126.

Dogecoin price analysis: Bears maintain downtrend as price decline to $0.115 1
DOGE/USD 1-day price chart. Source: TradingView

The volatility is high, suggested by the Bollinger bands. The upper end of Bollinger Bands Indicator is now at $0.145 position, whereas its lower back is standing at $0.1151 place representing the support. The Relative Strength Index (RSI) score has gone down as well and is trading near the under-bought limit now as the score is touching index 34.

Dogecoin price analysis: Recent developments and further technical indications

The four-hour Dogecoin price analysis dictates a downtrend, as well as the bears performed overwhelmingly. Although the bulls managed to upgrade coin value in the earlier hours of the day and are trying to elevate the price level at press time as well, the bears have successfully secured their winning position by plunging down the price four hours earlier. The damage has resulted in price devaluation up to the $0.115 mark. If we discuss the moving average indicator, then its value is currently $0.119.

Dogecoin price analysis: Bears maintain downtrend as price decline to $0.115 2
DOGE/USD 4-hours price chart. Source: TradingView

The Bollinger bands average has moved down to $0.121 because of the constant decreasing trend. The upper band of the Bollinger Bands Indicator is now touching the $0.127 mark, and the lower band is touching the $0.116 mark. The RSI curve is trading in the undersold region at index 29.

Dogecoin price analysis conclusion

The one-day and four hours Dogecoin price analysis are giving support for the sellers, as a consistent drop in DOGE/USD value is being observed. The price lowered to $0.115 in the last 24-hours, as the bears were leading the game even today. The hourly price chart displays bearish pressure.

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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