“Cryptocurrency DOGE drops below $0.8000 amidst bearish market trend – Report from Cryptopolitan”
Dogecoin price analysis suggests a bearish trend in the market, with the price dipping below $0.8000 to $0.07165 before rebounding to $0.08032 with a loss of 2.28%. The immediate support for DOGE lies at $0.07615, and a break below this level could lead to a further decline towards $0.07000. On the other hand, if the buyers can manage to push prices above the $0.8000 level and maintain it, more gains can be expected. The 1-day chart shows resistance around the $0.08282 level, with no major breakouts seen as the market capitalization has reduced to $11.1 billion. The MACD indicator is in the bearish zone and RSI is in a neutral zone with no extremities in price. The 4-hour chart shows DOGE trading in a pattern that favors the bullish side if the buyers can push prices above $0.08000. Technical indicators show a possible upward movement with the MACD displaying a bullish bias, the Bollinger Bands showing some room for upside moves and RSI sloping to the north. Overall, if buyers can keep prices above $0.08000, a bullish comeback can be expected, otherwise, the price may dip down to the $0.07615 support level again.