Dogecoin price analysis: DOGE declines to $0.0852 as the coin shows sideways price action.

Dogecoin price analysis: DOGE declines to $0.0852 as the coin shows sideways price action.

TL;DR Breakdown

  • Today’s Dogecoin price analysis shows sideways price movement.
  • The value of cryptocurrency has dropped to $0.0852.
  • Support for DOGE is present at the $0.0770 level.

A recent modest loss was experienced by DOGE/USD, according to the Dogecoin price analysis. Following yesterday’s bearish price function, today, bearish pressure has persisted, although bulls are also attempting to seize the initiative. In order to maintain its dominance up until this point, the selling pressure has driven the price down to $0.0852; nevertheless, as bulls work to break the trend, the currency is currently moving sideways.

DOGE/USD 1-day price chart: The DOGE price keeps hovering in the $0.0800 range.

The 1-day price chart for Dogecoin price analysis shows a decrease in the DOGE price value has been observed today. There have been some bullish efforts in the past week as well, as there are some green candlesticks visible as well, but overall the coin has been maintaining its price level near the same level. DOGE/USD has lost around 3.90 percent of its value during the last 24 hours, but on the other hand, the coin is still reporting gains of 2.78 percent for the past week, which is also a smaller percentage comparatively. The trading volume has increased by 23 percent today, which has resulted in a market dominance of 1.36 percent.

DOGE/USD 1-day price chart: Source: TradingView

The volatility, at the same time, is on the higher side. The Bollinger bands have widened far apart, with the upper band at $0.1446 representing the topmost resistance and the lower band present at $0.0642 representing the strongest support for DOGE/USD. The moving average (MA) has traveled just below the current price level and is settled at the $0.0850 mark. The Relative Strength Index indicator is trending at the lower neutral level of index 46 at the time of writing, representing almost balanced buying and selling activity in the market for the past few days.

Dogecoin price analysis: recent developments and further technical indications

The 4-hour Dogecoin price analysis shows that the price function is in a phase of reversing upwards at the moment, but the green candlestick is still quite small. The price breakout was downwards today, after a small recovery by the bulls at the end of the previous trading session, as the selling pressure appeared again just above the current price level. Currently, the price has moved below yesterday’s closing value of $0.0852, which shows a further loss.

DOGE/USD 4-hours price chart. Source: TradingView

The moving average is still trading above the current price level at $0.0861 in the four-hour chart, with the SMA 50 curve trading above the SMA 20 curve at the $0.0862 marks, which is also a bearish signal.

As the volatility is comparatively low on the 4-hour chart, the upper Bollinger band value is at the $0.0896 marker, whereas the lower Bollinger band value is at the $0.0828 level. The RSI graph is also showing almost straight horizontal movement, as the score has not changed today and shows a reading of 45 in the lower half of the neutral zone.

Dogecoin price analysis conclusion

The Dogecoin price analysis is reporting that bearish dominance has been seen today as well. The price levels have dropped to $0.0852, but DOGE has only recently found support, which will be tested in the coming hours. However, we don’t expect a major shift in the price levels for today.

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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