Bears succeed in bringing the price down to $0.074 as selling pressure develops – Cryptopolitan

The price is once again falling, according to the most current Dogecoin price analysis. The bears are making an effort to make a return and have also caused a slight decrease in price. As of right now, the price has fallen to $0.074, but it is expected to increase again soon. Because the price trend line has continued to point upward despite the bears’ ongoing presence over the past week, even though the upward slope is modest. The price was increasing yesterday, as the chart indicates, but it has since dropped once more today, which is a bearish sign.

DOGE/USD 1-day price chart: DOGE encounters opposition

Given that the price has dropped to $0.074, the one-day Dogecoin price analysis is displaying indications of bearish momentum. The price movement over the previous week displayed a zigzag pattern, and the decline today has favored the bears. There is a real chance that the bulls will turn around in the following trading period. Due to the previous increase, the moving average (MA) value is currently trading higher at $0.074. The coin experienced a 4.52 percent loss for the day, but a 0.94 percent value increase for the previous week.

The high level of volatility suggests that a price rebound may be feasible soon. The Bollinger band values have changed, with the upper value now indicating the strongest resistance at $0.079 and the lower value the strongest support at $0.069. For the one-day price chart, the Relative Strength Index (RSI) value is 48, which is quite neutral but with a steeply downward-sloping curve.

Dogecoin price analysis: Recent developments and further technical indications

The 4-hour price chart for Dogecoin price analysis shows that bearish momentum is once again getting steam given the price has been steadily declining for the past 28 hours. At $0.074, the price has now decreased significantly, though this could change in the future. Every hour, the price is dropping, and the decline has been very steady. On the four-hour price chart, the moving average indicator also shows its value at $0.076, which is a little higher than the present price value.

The narrowing of the Bollinger bands indicates a decrease in volatility. As a result, the higher Bollinger band has moved towards $0.079, while the lower Bollinger band is presently at $0.072. The RSI has also been trending lower at index 47, suggesting a sell signal in the market.

Dogecoin price analysis conclusion

As the price fell to $0.074 during the day, the Dogecoin price analysis for the previous day and the last four hours showed bearish behavior. Given today’s bearish obstacle, it is still expected that the bulls will continue to rule the price charts, despite the fact that there has been enough bearish resistance over the past week, as the trend line has not yet shifted in a bearish direction.