Dogecoin (DOGE) Price Analysis: Dogecoin Price Facing Continous Downfall At $0.0018

  • Dogecoin price today has also been one the prime victim of the overall bearish movement in the market with facing the overall loss of -1.63%.
  • However, the support level of $0.0015 is still to be broken for the cryptoasset in the market. 
Source: Coinmarketcap

On the 7day-weekly chart, Dogecoin started with the strong support level of $0.0017. The overall bearish nature of the crypto market forced the price to drop to the level of $0.0015.

The current price is at the level of $0.0018 with the market capitalization of $228,486,942 and volume traded of $156,545,377. The current circulating supply is 123,654,460,995 DOGE. However, the DOGE/BTC is performing well in the market with an overall gain of 1.36%. This can be a positive aspect from which Doge can rebuild bullish momentum in the market.

DOGECOIN Technical Analysis

Screenshot (156)
Source: Tradingview

The dogecoin price chart reflects on the bearish momentum faced by Shiba Inu from the starting of March. The significance of the downtrend for the altcoin can be easily noticed in the graph.

DOGE is facing price consolidation between the price range of $0.0015 and $0.0020. The current downtrend is also unable to break the price bracket as the cryptoasset got the major support level of $0.0016 and $0.0015.

The technical indicators and oscillators somewhat favor the bulls.

The MACD levels are again showing negative nature after dropping to the bullish zone and maintaining sustainability in the region. This may result in some negative movement for the altcoin. 

The 24hour- RSI is also showing positive nature and is about to reach a bullish level of 70. This favors the bulls.

The 24hour- CCi had a sharp negative divergence in the normal region and nearly avoided the fall to the oversold region. Currently, it is showing positive nature that can provide bullish momentum to Shiba Inu. 

Resistance Level: $0.0018 and $0.0020
Support Level: $0.0016 and $0.0015

The post Dogecoin (DOGE) Price Analysis: Dogecoin Price Facing Continous Downfall At $0.0018 appeared first on CryptoSyringe: Cryptocurrency , Bitcoin, Ethereum & Blockchain News.

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