- Dogecoin price today has also been one the prime victim of the overall bearish movement in the market with facing an overall loss of -15.52.
- The major support level of $0.0020 is also broken which has put the altcoin into major concerns.
On the 7day-weekly chart, Dogecoin started with the strong resistance level of $0.0025. The expectation was to break the critical resistance point and move forward to another crucial level of $0.0030. But the overall crypto market had something else to offer.
With the majority of the coin facing major downtrend today in which BTC broke below the crucial level of $6k and ethereum barely surviving on the support level of $140, Dogecoin also faced negative momentum.
The current price is at the level of $0.0018 with the market capitalization of $223,486,942 and volume traded of $149,545,377. The current circulating supply is 123,654,460,995 DOGE. However, the DOGE/BTC is performing well in the market with an overall gain of 8.72%. This can be a positive aspect from which Doge can rebuild bullish momentum in the market.
DOGECOIN Technical Analysis
The dogecoin price chart reflects on the bullish momentum build by Shiba Inu from the starting of February but somehow it didn’t last long. Besides, the downtrend was more significant for the altcoin which can be easily noticed in the graph.
Before today’s major downtrend in the overall market, DOGE was facing price consolidation between the price range of $0.0020 and $0.0025. The current downtrend is able to brake the price bracket as the cryptoasset went down to the level of $0.0016.
As per Dogecoin price analysis technical indicators and oscillators somewhat favor the bears.
The MACD levels have again reached the bearish zone after climbing to the bullish zone after a long time. This is not certainly a good indication for dogecoin holders
The 24hour- RSI is also showing downtrend nature and reaching a bearish level of 30.
The CCI somehow managed to have positive divergence from the oversold region which indicates that there’s still some buying left for the altcoin in the market.
Resistance Level: $0.0020 and $0.0025
Support Level: $0.0018 and $0.0016
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