According to the analysis of dog coin prices, the current market pattern is undergoing significant changes. According to today's report, the price hit a new low of $0
According to the analysis of dog coin prices, the current market pattern is undergoing significant changes. According to today's report, the price hit a new low of $0.087 after a period of decline. Due to the downward trend line after December 4, 2022, the weekly trend also indicates that bears are in a leading position. As the support level is still below $0.085, it can also be predicted that the price level will continue to decline.
Price analysis of dog coins: As the price level drops, DOGE drops by nearly 10%
Given that the price function is already in a negative pressure state, the price analysis of one day dog coin has significantly decreased today. After failing to avoid bearish pressure, the price of cryptocurrency fell to $0.087 today. The value of cryptocurrency has decreased by 9.99% in the past 24 hours and 16.24% in the past 7 days.
The moving average (MA) shows us the average value calculated at 0.097 US dollars, which is higher than the current price. Greater losses in the past week; This also resulted in a low relative intensity index (RSI) score of 42. The downward curve of the indicator indicates a sell-off activity in the market.
Due to the bearish trend experienced in the past week, as the Bollinger band converges, volatility is also decreasing. The upper limit has reached the level of 0.109 US dollars, representing the highest resistance, while the lower limit has also reached 0.082 US dollars, representing the strongest support.
DOGE/USD 4 hour chart: recent developments and further technical indicators
The 4-hour dog coin price analysis report shows a significant drop in coin value to $0.087. With the continuous decline in price levels, there has been selling pressure in the market today. The average value of the Bollinger band shows an increase in volatility of $0.096. In addition, we can also see that both SMA50 and SMA20 have shown a downward trend, which is a major bearish indicator.
The increase in volatility is due to the rapid decline in prices, with the upper limit falling to $0.101 and the lower limit falling to $0.089. On the other hand, the moving average shows us the collective average of $0.097 in the candlestick chart. With more red candlesticks appearing today, the RSI score has dropped to the low selling area of index 17.
Conclusion of Dog Coin Price Analysis
The price analysis of Dogcoin indicates that the past week has been crucial for cryptocurrencies. The chart shows that the short-term trend line has been moving downwards. As shown by the RSI score of 17, the token is currently undervalued, which is bad news for buyers. However, the level of $0.085 may provide support for DOGE/USD.
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