dogecoin Today’s price analysis is bearish, with a strong retest of the upside at the $0.07 mark. Since then, the reaction has weakened, suggesting that DOGE/USD may fall further over the weekend.
The market has been trading green for the last 24 hours. Bitcoin, the leader, rose 1.24%. ethereum increased by more than 4%. The rest of the market traded green as the overall market sentiment was bullish.
Dogecoin price movement over the last 24 hours: Dogecoin beats local resistance
DOGE/USD is trading between $0.06612 and $0.07012, showing significant volatility over the past 24 hours. Trading volume increased by 27.77% to a total of $331.12 million, with a total market capitalization of about $9.1 billion, and the coin ranked him 11th overall.
DOGE/USD 4 Hour Chart: Is DOGE Ready For Another Drop?
On the 4-hour chart, we can see that the reaction has been lower in the last few hours. This indicates that the bearish momentum will continue for the rest of the weekend.
dogecoin price The action has traded with steady bearish momentum over the past week leading to a new swing low set at $0.065. DOGE/USD from there Move to integration Because the selling pressure has weakened.
After several attempts to keep it down, DOGE was unable to go any further, resulting in a powerful high-swing low set. Ultimately, the bulls got the upper hand and the market climbed above the $0.069 resistance.
However, given that it never fell further above $0.07, we expect it to turn down again overnight. Dogecoin price action could return to and exceed the $0.65 support by the end of the weekend.
Dogecoin Price Analysis: Conclusion
Dogecoin price analysis It is bearish today as it has been rapidly retesting the upside and reactionary downside over the past few hours. Therefore, DOGE/USD continues its decline over the weekend and is trying to break below the $0.065 support.