Dogecoin Today’s price analysis is bearish, with yesterday’s clear top denial and now lower local highs. Therefore, we expect DOGE/USD to break the $0.069 support and start another drop early next week.
The market has been trading in the red for the last 24 hours. Leader bitcoin lost 2.33%, but ethereum It decreased by more than 0.06%. Meanwhile, Dogecoin (DOGE) saw a slight decline of just over 1%.
Dogecoin Price Action Over the Last 24 Hours: Dogecoin Can’t Continue Rising
DOGE/USD is trading between $0.06895 and $0.07203, indicating moderate volatility over the past 24 hours. Trading volume dropped by 29.81% to a total of $524.85 million, but the market cap traded at around $9.43 billion, making him the 10th largest coin overall.
DOGE / USD 4-hour chart: Is DOGE ready to decline?
The 4-hour chart is Dogecoin price It has been trading weakly since yesterday and could lead to another retracement early next week.
Dogecoin price behavior has been trading with strong bullish momentum for most of the week. From the previous low of $ 0.06, DOGE / USD quickly rose by more than 20% as it tested a resistance of $ 0.072.
From there, a quick retracement to $0.068 followed on Friday, indicating a possible continuation of the retracement over the weekend. However, it did not see any further decline as a higher local low was set and it moved further up.
this time, DOGE surges above $0.073, soon becomes less responsive and soon follows. Since then, Dogecoin’s price has been unable to continue to rise as lower regional highs are quickly set, followed by a reversal the next day.
Dogecoin Price Analysis: Conclusion
Dogecoin price analysis We are bearish today as yesterday saw a refusal above $0.073 as a failure to continue today. This means that the bulls have likely been exhausted and DOGE/USD is poised to break below $0.069 early next week and likely return to $0.065 next.