Dogecoin Price analysis is bearish today as it is slow and hits a high of $ 0.069. Perhaps this will cause DOGE / USD to fall overnight, leading to a negative start next week.
Cryptocurrency heat map. sauce: Coin360
The market has been trading green for the last 24 hours. Leader Bitcoin rose 3.45%, Ethereum It increased by 6.93% and was one of the top performers of the day. Dogecoin (DOGE) followed with a slight increase of 2.91%.
Dogecoin Price Movements Over The Last 24 Hours: Dogecoin Retests Previous Local Highs
DOGE / USD traded between $ 0.06628 and $ 0.06885, indicating low volatility over the last 24 hours. Trading volumes fell 17.38 percent to a total of $ 366.6 million, with a market capitalization of approximately $ 9 billion, and coins ranked 10th overall.
DOGE / USD 4-hour chart: DOGE seems to pivot again
On the 4-hour chart, we see a resistance of $ 0.69. This indicates that another low local high has been set and the bear is ready to take over early next week.
DOGE / USD 4-hour chart. sauce: TradingView
Dogecoin price The action traded at the beginning of the week with a strong bull as the previous high of $ 0.073 was broken with a strong momentum. The new swing peak reached $ 0.077 shortly before a major retrace continued on Wednesday.
From there, DOGE / USD quickly rebounded, setting a clear low local high of $ 0.071. This indicates that further retracement is expected later in the week. More downsides actually followed, as Doge went back further at the $ 0.066 mark yesterday.
Steady high retraces continued, which led to resistance of $ 0.069 again. Since reaching the mark, Dogecoin prices have been trading flat for most of today, indicating that the reversal will soon continue.
When the bearish momentum resumes, we expect the next support of $ 0.065 to be achieved shortly. In addition, DOGE / USD has set even lower regional highs and may fall later next week.
Dogecoin Price Analysis: Conclusion
Dogecoin price analysis is bearish today as it has seen steady retraces and another low local highs set over the past few days. Therefore, bears are ready to push the market down overnight and should lead to the next support at $ 0.065 early next week.
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