Mounting selling pressure causes DOGE to drop to $0.07057 – Cryptopolitan

Dogecoin’s price has fallen for a second day in a row, reaching a new low of $0.07057. The sell-off is fueled by speculation that demand for the cryptocurrency is waning due to its limited use cases and lack of blockchain development. DOGE/USD needs to break above the resistance level at $0.07313 for a potential trend reversal, while downside support is found at $0.06814. Dogecoin’s market capitalization currently stands at $9.3 billion, with a 24-hour trading volume of $446 million. Technical indicators show that the moving average and MACD are in bearish territory, while the RSI is below 40, indicating strong selling pressure. While the short-term outlook remains bearish, traders should closely monitor key support and resistance levels for any signs of a possible trend reversal.

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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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