Dogecoin Price analysis is bearish today as it confirms further testing of the upside below $ 0.07 and rejection of the upside. Therefore, DOGE / USD remains even lower and is ready to break the uptrend line for several days.
The market has been trading in the red for the past 24 hours. Leader Bitcoin fell 0.81%, but Ethereum 1.4% or more. On the other hand, the remaining high-ranking altcoins had low volatility and were traded with mixed results.
Dogecoin price movements over the last 24 hours: Dogecoin goes back further
DOGE / USD is trading in the range of $ 0.06894 to $ 0.07049, indicating moderate volatility over the last 24 hours. Trading volume fell 35.84% to a total of $ 284.47 million, with a market capitalization of approximately $ 9.23 billion and a tenth place in the market.
DOGE / USD 4-hour chart: Does DOGE seem to collapse?
The 4-hour chart shows that recovery is further rejected. This indicates that DOGE / USD may do further downside testing later in the weekend.
Dogecoin price The action went up even further in a week, and two more distinct waves were higher. After the last local high was set in the middle of the week, it rapidly reached its current swing high at $ 0.073, the next major resistance of yesterday.
Since then, DOGE / USD has retraced To support $ 0.069 Similar to the previously formed ascending support trend line. The integration has been going on for the past 24 hours, indicating that another higher low may be set.
However, there are no signs of recovery so far. Perhaps the price of Dogecoin will be even lower, at the break-even point, and even further back. Alternatively, if the bullish momentum reappears and the $ 0.07 resistance breaks, another backlash is expected to continue early next week.
Dogecoin Price Analysis: Conclusion
Dogecoin price analysis We are bearish today as we have seen the integration continue along the rising support trendline for several days. This support will soon be discontinued as it has not been able to reach further upsides in the last 24 hours and could be pushed further by the end of the weekend.