- DOGE/USD is currently trading at $0.00214, as per the data feed on HitBTC
- Dogecoin trades in the utter selling zone with no immediate support
- The upward forming trendline was hit by a downside breakout which led the coin to trade around the current trading area
Dogecoin, just like any other altcoin, is showing a similar patterned price trend against the US Dollar. After having declined from trading above $0.0023, DOGE/USD hit bottom near $0.0020. Since then, the coin has maintained a stable move with a slowly declining trend that we see after hitting the rising wedge that was getting formed previously.
Dogecoin Price Analysis:
Taking a glance at the 10-day movement of DOGE/USD, it is rightly observed that the movement of the coin is no different than any other altcoin in the market. The stability has taken the grounds of many large-cap coins and we believe that this stability is leading to a slight decrease in the trading price of the Dogecoin. And to predict the future, check on future of Dogecoin and get further information about the coin in detail!
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The current trading price is 2.88% more than the lowest and over 9% less than the highest in the said time frame. The latter gap is enough to justify the push that the coin requires for a bullish crossover.
Technical Indicators:
The MACD of Dogecoin is running below zero with a bearish crossover as the signal line cuts the MACD line from below.
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The RSI of the coin also confirms the prevailing bearishness, as it is sliding downwards, having an inclination to the oversold region.
