Price: $0.39365 2.0196%
Market Cap: 57.82B 1.7541%
Volume (24h): 8.59B 0.4%
Dominance: 1.7541%
Price: $0.39365 2.0196%
Market Cap: 57.82B 1.7541%
Volume (24h): 8.59B 0.4%
Dominance: 1.7541% 1.7541%
  • Price: $0.39365 2.0196%
  • Market Cap: 57.82B 1.7541%
  • Volume (24h): 8.59B 0.4%
  • Dominance: 1.7541% 1.7541%
  • Price: $0.39365 2.0196%
Home > Information news > Dogecoin Loses Value At $0.084 Due To Further Rejection

Dogecoin Loses Value At $0.084 Due To Further Rejection

Release: 2024/01/07 06:06 Reading: 974

Original author:TheBitTimes

Original source:https://coinmarketcap.com/community/articles/659992c6c35ac51d37d62ae1

Jan 06, 2024 at 14:22 // Price
Author
Coin Idol

The price of Dogecoin (DOGE) fell to a mandatory minimum before rising again. The cryptocurrency tested the 1.618 Fibonacci extension to reach the low of $0.073.

Long-term forecast for the Dogecoin price: bearish

DOGE recovered but remained stuck at the resistance level of $0.085. The upside correction could extend to the high of $0.095 or higher if the initial resistance had been broken. The coin is currently losing value as it was rejected at its previous high. DOGE is currently trading at $0.081. If the bearish momentum continues, the market will drop to a low of $0.070.

Dogecoin indicator reading

DOGE will continue to fall as long as the price bars are below the moving average lines. The altcoin is about to fall to $0.070. The downward sloping moving average lines indicate the downtrend. Doji candlesticks, which limit the price movement, dominate the price action in cryptocurrencies.

Technical indicators

Key resistance levels – $0.12 and $0.14

Key support levels – $0.06 and $0.04

DOGEUSD_ (Daily Chart) –Jan.06.jpg

What's next for Dogecoin?

After its last decline on January 3, Dogecoin is still bearish. The cryptocurrency has stabilized above the support level of $0.082 since January 3. Today, as the cryptocurrency resumes selling pressure, the bears have undercut the existing support. DODE is expected to hit a low of $0.070 if the negative momentum continues.

DOGEUSD_ (4-Hour Chart) –Jan.06.jpg

According to the previous report by Coinidol.com, DOGE could fall to the Fibonacci extension of $1.618 or the low of $0.075. 

Disclaimer. This Analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do the research before investing in funds.

Source: https://thebittimes.com/dogecoin-loses-value-at-0-084-due-to-further-rejection-tbt75797.html

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