Price: $0.42482 -3.166%
Market Cap: 62.42B 1.8649%
Volume (24h): 10.65B 0.4%
Dominance: 1.8649%
Price: $0.42482 -3.166%
Market Cap: 62.42B 1.8649%
Volume (24h): 10.65B 0.4%
Dominance: 1.8649% 1.8649%
  • Price: $0.42482 -3.166%
  • Market Cap: 62.42B 1.8649%
  • Volume (24h): 10.65B 0.4%
  • Dominance: 1.8649% 1.8649%
  • Price: $0.42482 -3.166%
Home > Information news > Dogecoin Price Falls But Holds Above $0.074

Dogecoin Price Falls But Holds Above $0.074

Release: 2024/01/15 06:17 Reading: 514

Original author:TheBitTimes

Original source:https://coinmarketcap.com/community/articles/65a441edbafd6211a8d76638

Jan 14, 2024 at 16:54 // Price
Author
Coin Idol

The price of Dogecoin (DOGE) has fallen below the moving average lines.

Long-term outlook for the Dogecoin price: bearish

The negative momentum has weakened since the price broke down above the $0.073 support level on January 3. The DOGE price's attempt to recover upwards was halted by the resistance at $0.087 and the moving average lines. 

Today, DOGE is trading at $0.079. The cryptocurrency is bearish after its rejection on January 11. If the bearish momentum continues beyond the current support, Dogecoin will fall and reach its previous low of $0.070.

However, if buyers keep the price above the moving average lines, the altcoin will resume its positive trend. Consequently, DOGE is bearish.

Dogecoin indicator reading

DOGE/USD's price bars are below the moving average lines, making it vulnerable to a decline. The price action of cryptocurrencies is primarily characterized by extended candlestick tails, which indicate robust buying at lower prices. The 21-day SMA has crossed below the 50-day SMA, indicating a bearish crossover for DOGE at this time. This shows where sell orders are being placed.

Technical Indicators

Key resistance levels – $0.12 and $0.14

Key support levels – $0.06 and $0.04

DOGEUSD_ (Daily Chart) –Jan.13.jpg

What is the next direction for Dogecoin?

DOGE/USD is expected to fall further to the low of $0.070. This is because the resistance at $0.087 and the moving average lines are rejecting each other. The price of the altcoin has been oscillating between $0.076 and $0.088. The decline will continue once the current support level at $0.076 is breached.

DOGEUSD_ (4-Hour Chart) –Jan.13.jpg

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-price-falls-but-holds-above-0-074-tbt76559.html

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