Dogecoin Price Turns Red As Resistance Of $0.0026 Stands Strong

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Dogecoin’s price today has been on the losing side in today’s bullish market. 
  • The reason for the downfall can be justified by the resistance level of $0.0026.

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Dogecoin price analysis on the 7day-weekly chart, Dogecoin (Doge) price started with a crucial level of $0.0020. The overall bullish nature of the crypto market provided the price to reach the level of $0.0025. But the major concern for the Doge is the major resistance level of $0.0026 which is provided continuous reversals to the doge bulls.

The current price is at the level of $0.0025 with the market capitalization of $311,486,942 and volume traded of $293,545,377. The current circulating supply is 124,654,460,995 DOGE. However, the DOGE/BTC is performing negatively in the market with an overall loss of -0.88%. 

DOGECOIN Price Analysis 

Screenshot (6)
Source: Tradingview

The dogecoin price chart reflects on the price consolidation faced by Shiba Inu from the starting of this month. The consolidation period for the altcoin can be easily noticed in the graph. 

DOGE is facing price consolidation between the price range of $0.0020 and $0.0025. The current downtrend is also unable to break the price bracket as the crypto asset got the major support level of $0.0025. The support level of dogecoin is still the same at $$0.0020.

The technical indicators and oscillators somewhat favor the bulls. The MACD levels are again showing bullish nature after reaching to bullish zone and spending some time in the region. This is certainly a good indication for dogecoin (doge) holders. 

The 24hour- RSI is also showing positive nature and is about to reach a bullish level of 50. This also favors the bulls.

The CCI had positive divergence from the depth of normal territory to the overbought region reflecting on the strong and sharp buying momentum still left for the crypto asset. 

Resistance Level: $0.0026 

Support Level: $0.0025 and $0.0020

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