Cryptocurrency: Selling pressure drives bears to lower price to $0.074

Dogecoin’s price has fallen to $0.074 due to renewed bearish activity. The trend line, however, continues to point upwards, albeit modestly, suggesting that the bulls are expected to make a comeback soon. The one-day Dogecoin price analysis shows a zigzag pattern over the past week while the coin experienced a 4.52% loss for the day but a 0.94% increase for the previous week. There is a possibility of a price rebound in the near future, especially given the high volatility. The Bollinger bands indicate that the upper value provides the strongest resistance of $0.079 and the lower value provides the strongest support of $0.069. In the four-hour price chart, the moving average indicator is slightly higher at $0.076 while the narrowing Bollinger bands indicate a decrease in volatility. The RSI value of 47 suggests a sell signal in the market. Despite today’s bearish obstacle, it is expected that the bulls will rule the price charts as the trend line has not yet shifted in a bearish direction.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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