DOGE/USD struggles to maintain balance as price dips to $0.070 today – Cryptopolitan

Dogecoin price analysis has quite a negative sentiment today, however it is still not as bad as Dogecoin’s worst days in the past. The last 24 hours have resulted in Dogecoin’s price to fall from $0.0750 to $0.070, which is a considerably decrease from the perspective of Dogecoin’s market.

Bitcoin and Ethereum have both marked a decrease today. While Ethereum has lost 2.98 percent, Bitcoin went lower by 0.97 percent. Cardano, Litecoin, and Ripple are all following the same course as these two major coins.

The 1-day Dogecoin price analysis above shows that it might be time for Dogecoin’s market to start improving again. The MACD indicator is showing a decrease in the strength of the red histograms and the histograms are slowly moving into the greens. At the same time, the MACD lines are about to form a crossover. So, it appears that the bulls are slowly catching up near the end of the rough day today.

Dogecoin 24-hour price movement

Exactly 24 hours ago, Dogecoin price analysis closed at 0.0747 while its current price is 0.070. So, the day has been quite rough for Dogecoin. However, it appears that it is now gearing up for some improvement.

Overall, Dogecoin’s market capitalization reduced by 6.33 percent today while its trading volume went lower by 18.75 percent. So, its volume to market cap ratio today is 0.0571.

4-hour Dogecoin price analysis

In the 4-hour Dogecoin price analysis chart, we can see that the coin is consistently bearish today. However, in the short term, some improvement has been recorded. It might take some time for the 4-hour chart to catch up. Nevertheless, this does add some uncertainty into the market.

Dogecoin price analysis: Conclusion

Overall, Dogecoin price analysis has been rough today and the market lacks bullish momentum. This has led the bears to takeover resulting in a decrease. However, the shorter timeframes are showing signs of recovery, which can create a balance in Dogecoin’s market in the next few hours.

It would be better to wait before buying Dogecoin to see how the market plays out in the next few hours. In the meantime, you may want to read out long term Dogecoin price prediction.