Dogecoin (DOGE) Mildly Uplifts Over a Day; Market Struggles for a Rebound
- Dogecoin goes through a volatile phase though lacks positive momentum
- The coin is heading towards lower lows; looks for the bottom
- DOGE seems to have a support level at $0.00214; currently appears below the 78.60% Fib level
- Technical indicators look bearish while the coin carries selling pressure
Today the total market capitalization of the overall crypto market is on a bearish spree as it is tumbling downward. Moreover, Bitcoin is also trading downwards after it went above $7600 yesterday. Dogecoin is also on its pullback mode after it traded above $0.0022 yesterday.
Dogecoin Price Prediction:
Over the last 24 hours, Dogecoin has covered a range-bound price span from $0.002147 to $0.002270. The coin opened at $0.00217 yesterday, just a bit above the lowest price of the day. After a couple of spikes above $0.0022, DOGE has bottomed to $0.00214, and from there, it escalated by 5.73%. As Dogecoin price faced a stiff resistance above $0.00227, it pulled back to $0.00218.
Since then, the coin has been oscillating between $0.0021 and $0.0022 till now. The currency is struggling to remain above 78.60% Fib level as it shifts towards lows. At 06:46:59 UTC, Dogecoin’s price is trading at $0.00217.
Technical indicators are showing negative signs except for RSI as it is at 46, in the neutral zone. MACD is in the bearish zone with its MACD line on the downside, while SMA lines formed a death cross yesterday before closing.
Dogecoin value is likely to test support levels at $0.00212 and $0.00203 as it is tumbling at present. Its resistance levels stand at $0.00231, $0.0024, and $0.00245.