DOGE consolidates above the $0.8100 level as bears hold full control – Cryptopolitan

Dogecoin price analysis reveals DOGE price action in the last 24 hours has been low volatile as the meme coin has been trading inside a range-bound zone. Dogecoin opened today’s trading session at an intra-day high of $0.8278 and dipped sharply to an intra-day low of $0.7897, indicating a bearish trend in the coin.

Dogecoin is trading at $0.08188,down by 0.15% in the last 24 hours. Dogecoin’s price movement has been quite steady in the last few days, as it has been trading inside a range-bound zone. At the time of writing, DOGE is consolidating above the $0.8100 level and bears seem to be firmly in control of the price action as DOGE retraced lower after failing to protect the $0.8300 resistance.

The current support for DOGE is present near the $0.7950 and $0.7800 level respectively, while the major resistance on the upside is seen at around $0.8300 and $0.8400 level respectively. A break above these levels could see the DOGE price start to appreciate in the coming hours.

Looking ahead, if the bulls can manage to push the price above the $0.8400 level, we could see a further appreciation in DOGE. On the other hand, if the bears keep dominating, then DOGE could decline toward $0.7750 and even lower levels.

DOGE/USD daily chart price analysis: Bears adamant about pushing prices lower

Dogecoin price analysis on the 24-hour price chart shows bears have not yet staged massive selling action, but the price is still trending lower. The 50 EMA line has crossed below the 200 EMA line and is also providing strong resistance on the upside, confirming that bears are adamant about pushing prices lower.

The price of DOGE is trading below the daily MA, indicating bearish momentum. The MACD has moved into the bearish zone, and RSI is also trading in negative territory.

The Chaikin Money Flow indicator is also below the zero-line, suggesting that money has been flowing out of DOGE. If this continues, then DOGE could be in for further losses in the near future.

Dogecoin price analysis on a 4-hour chart: Bullish divergence

Dogecoin price analysis on a 4-hour chart shows the formation of a bullish divergence, as the MACD line has crossed above the signal line. This indicates that there could be some buying pressure on DOGE in the near future. The RSI is also trading at neutral levels and is just above the 50 level, suggesting that the current trend could continue.

The 12 EMA line and 26EMA line are both trending lower, while the 50 EMA line is still providing strong resistance on the upside. Thus, any attempts to breach this level should be met with stiff selling pressure.

Dogecoin price analysis conclusion

Dogecoin price analysis reveals that the coin is currently in a bearish trend and bears are firmly in control of the price action. However, some buying pressure could be seen if buyers can manage to push the price above the $0.8300 and $0.8400 resistance levels respectively. On the downside, if prices fall below $0.7950 and $0.7800 support levels respectively, then the bears could extend their control further.