DOGE Slides Over 4%: Is a Rebound Possible?
- DOGE is holding within the $0.1635 range.
- The meme coin’s daily trading volume has surged by over 52%.
Market-wide bearish pressure has triggered sharp losses across crypto assets. The meme coin market cap has reached $49.4 billion, losing over 6.5%. Following the downtrend, Dogecoin (DOGE) has slipped by 4.69%.
The meme coin opened the day, trading at around $0.1681, and the price climbed toward a peak range of $0.1787. With bears in command, DOGE tumbled to a low of $0.1624.
At the time of writing, DOGE traded at $0.1635, with the market cap at $24.26 billion. The daily trading volume of the meme coin has reached $1.9 billion. Besides, the market observed a liquidation of $11.49 million worth of DOGE.
Notably, Dogecoin has plunged by over 17% in the last seven days. The asset began trading the week at the $19 range, and the weekly low was formed at $0.1609.
Will DOGE Continue Its Decline?
DOGE’s strong bearish momentum is exhibited with the Moving Average Convergence Divergence (MACD) line and signal line crossing below the zero line. A continued stay below the zero line may lead to further declines.
The Chaikin Money Flow (CMF) indicator at -0.03 indicates a weak accumulation and conservative market sentiment, though not very negative. In the meantime, DOGE’s daily trading volume has increased by more than 52.61%.
If DOGE fails to hold above the $0.17 mark, the price might fall back toward $0.1537. Losing this key support range could send the meme coin into deeper correction territory.
On the upside, a recovery of the meme coin could likely attempt to reclaim the $0.20 range. The emergence of a golden cross could drive DOGE to a retest of the $0.2446 resistance.
In addition, the meme coin’s Bull Bear Power (BBP) value of -0.0081 suggests mild bearish momentum. DOGE’s daily relative strength index (RSI) at 40.30 indicates a neutral-to-bearish zone.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Highlighted Crypto News
Read More
DOGE Slides Over 4%: Is a Rebound Possible?
- DOGE is holding within the $0.1635 range.
- The meme coin’s daily trading volume has surged by over 52%.
Market-wide bearish pressure has triggered sharp losses across crypto assets. The meme coin market cap has reached $49.4 billion, losing over 6.5%. Following the downtrend, Dogecoin (DOGE) has slipped by 4.69%.
The meme coin opened the day, trading at around $0.1681, and the price climbed toward a peak range of $0.1787. With bears in command, DOGE tumbled to a low of $0.1624.
At the time of writing, DOGE traded at $0.1635, with the market cap at $24.26 billion. The daily trading volume of the meme coin has reached $1.9 billion. Besides, the market observed a liquidation of $11.49 million worth of DOGE.
Notably, Dogecoin has plunged by over 17% in the last seven days. The asset began trading the week at the $19 range, and the weekly low was formed at $0.1609.
Will DOGE Continue Its Decline?
DOGE’s strong bearish momentum is exhibited with the Moving Average Convergence Divergence (MACD) line and signal line crossing below the zero line. A continued stay below the zero line may lead to further declines.
The Chaikin Money Flow (CMF) indicator at -0.03 indicates a weak accumulation and conservative market sentiment, though not very negative. In the meantime, DOGE’s daily trading volume has increased by more than 52.61%.
If DOGE fails to hold above the $0.17 mark, the price might fall back toward $0.1537. Losing this key support range could send the meme coin into deeper correction territory.
On the upside, a recovery of the meme coin could likely attempt to reclaim the $0.20 range. The emergence of a golden cross could drive DOGE to a retest of the $0.2446 resistance.
In addition, the meme coin’s Bull Bear Power (BBP) value of -0.0081 suggests mild bearish momentum. DOGE’s daily relative strength index (RSI) at 40.30 indicates a neutral-to-bearish zone.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Highlighted Crypto News
Read More