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- 1 Dogecoin crypto price is currently trading at $0.1345 with a gain of 4.34% in the last 24 hours with a market cap of $19.31 Million.
- 2 Dogecoin’s crypto price decreased by 19.85% over the past seven days.
Dogecoin took a reversal from the level of $0.2065 and broke below the key moving averages suggesting that sellers are pulling the price down.
Over a week, Dogecoin crypto has experienced a decrease of approximately 19.85%. However, the coin has grown by almost 57.31% in a month, and 46% in the last 3 months. It gave an outstanding return of $120.13% in the last 6 months and grew by 49.94% year to date. The data shows weakness in the price.
At press time, the Dogecoin crypto price was $0.1345, with an intraday gain of 4.34%, showing bullishness in the session. Moreover, the trading volume is 2.55 Billion. The market cap is $19.31 Billion. Analysts have maintained a neutral rating.
The current situation demands traders and investors to be calm and wait for a clear break above or below the range before taking any actions and avoiding the fear of missing out to reduce losses.
The oscillators are currently showing that the price is overvalued. Investors are not very hopeful about the token’s recovery. The short sellers may benefit from this opportunity while buyers may choose to sit on the fence regarding the current situation.
Technical Analysis of Dogecoin Crypto Price in 1-D Timeframe
DOGE by writer12_gsm on TradingView.com
The price currently needs significant support from the buyers to make a comeback as it is facing major resistance from the previous resistance points and multiple moving average levels. Buyers are taking control of the price movement, according to the candlestick patterns.
Dogecoin Crypto Price vs Volume Analysis
According to the price and volume graph, the trading volume and price both declined in March. If the trading volume continues to drop, it could negatively impact the price.
Dogecoin Crypto Social Dominance vs Social Volume
The graph depicting the correlation between social dominance and social volume has shown a downfall in the past few weeks, indicating a negative trend. This recent change may potentially affect the future momentum of the DOGE coin price.
Summary
The given passage talks about the technical indicators for Dogecoin (USD: DOGE) and the possibility of a bearish trend. The MACD, RSI, and EMAs are all indicating negative trends, which could potentially lead to a continued decline in DOGE’s price. However, if the cryptocurrency receives substantial support from buyers, there is a chance of an upward trend. To reach the recovery phase, Dogecoin must attract more buyers to raise the crypto price.
Technical Levels
Support Levels: $0.1080 and $0.0941
Resistance Levels: $0.1928 and $0.1460.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
