The Dogecoin price has been trading sideways around the $0.24 mark for more than a week now, as the coin continues to struggle to break the $0.30 barrier. The coin’s price has been hovering around the $0.24 mark for the past few days, and is currently trading above the $0.25 level. During the week, the crypto-currency was largely range bound, as it traded between the $0.24 and $0.25 levels. The coin also had a brief spike against the US Dollar, but failed to hold the $0.25 support level.
Dogecoin price analysis: DOGE moves sideways around $0.24, prepares for a spike lower? DOGE is preparing a push lower and currently trading at around $0.24, after being stuck sideways since the start of the month.
The latest market trend for Dogecoin is to continue moving sideways around $0.24 per coin, and trying to break out of that range. This is a somewhat strange market trend considering that there is a growing demand for Dogecoin in places such as Malaysia and China.. Read more about dogecoin forecast and let us know what you think.Summary of the situation
- DOGE continued to consolidate around $0.24.
- The bears are preparing for another downward push.
- The next target is support around $0.165.
The price analysis of dogecoin is bearish for the next few hours, as the market has been consolidating in a downward range for the past few days. As a result, the DOGE/USD pair is expected to start declining over the weekend, heading towards the previous support level of $0.165 to continue the overall downtrend.
Overall, the market has been under significant downward pressure in recent weeks, resulting in a significant drop from the 22nd percentile of the market. June has set thresholds. From that point, the DOGE/USD pair climbed to $0.29, which had previously served as strong resistance.
Dogecoin has been trading in an increasingly narrow range in recent days, with several lower highs along the 100-period moving average, suggesting that the bears are building pressure to move lower.
The DOGE/USD pair is currently trading near its moving average and there are no signs that it will break it. This development in Dogecoin price action could lead DOGE/USD to a sharp decline in the coming days, as bears look to push the market even lower and retest the $0.165 support level.
Dogecoin Price Analysis: Supplement
Dogecoin price analysis is bearish for the next few days while the market continues to gain momentum in a declining range around the $0.24 level. Given the overall bearish price structure, the DOGE/USD is expected to break next week and move further lower along the overall trend.
In anticipation of a further decline in Dogecoin, check out our articles on DeFi, bitcoin commissions and what you can buy with bitcoin.
Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.This week, the price of Dogecoin rallied to almost $0.50 and then gave back all of its gains. The reason for its strong movements was partly due to the announcement of the Bitcoin Gold fork on November 12th. However, once the fork and ensuing chaos subsided, Dogecoin traders expected that the coin would return to its usual range of around $0.20. As of this writing, DOGE is trading at $0.25, and that is where it will likely stay for a while, unless there is some huge news to shake the market.. Read more about doge usdt price prediction and let us know what you think.
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