Dogecoin price analysis: DOGE looks for support as price retraces back to $0.132

TL;DR Breakdown

• The latest Dogecoin price analysis is bearish.
• Resistance for DOGE is present at $0.136.
• Support for DOGE/USD is present at $0.127.

The Dogecoin price analysis is on the bearish side as the bears are gaining strength, and the price has decreased today. The price has been continuously dropping since yesterday as the selling pressure has encircled the market, and today bears are in the driving seat again as the trend is the same and the price has decreased up to $0.132. The retracement is not very strong, but the trend is in favor of the sellers currently.

DOGE/USD 1-day price chart: DOGE to retest $0.127 as support

The 1-day price chart for Dogecoin price analysis shows the bears are reigning the price chart for today as the price level has further decreased. A rise in price was recorded on 28th February and then on 1st March, but there on the coin faced rejection from further upside, and the price has decreased to $0.132 during the last 24 hours, losing 1.20 percent value during the last 24 hours. The next inline support for DOGE price is present at $0.127.

The volatility for DOGE is high as the upper limit of the Bollinger bands is present at the $0.152 mark representing the resistance, and the lower band is standing at $0.119, representing the strongest support for the DOGE/USD. The price is moving down towards the moving average (MA), which is present at $0.129.

The relative strength index (RSI) is trading at index 44 in the lower half of the neutral zone at a humble downwards slope, giving a hint for more selling activity in the market.

Dogecoin price analysis: Recent developments and further technical indications

The 4-hour Dogecoin price analysis shows the price breakout was downwards today, as the bears took over the price function last night and continued covering range downwards for eight hours. The bullish support has also been seen appearing during the last four hours as a small green candlestick has also appeared, and the price has recovered minimally to $0.132 at the time of writing.

The volatility on the 4-hour chart is high, but now on a decreasing trend due to the low price oscillations for the past few days, the Bollinger bands are narrowing down. However, the mean average of the Bollinger bands at $0.131 is found just below the price level, the upper limit is at $0.137, and the lower limit is at $0.125. The RSI is hovering at a straight line as the buying activity resumes in the market. The indicator trades at index 53, just near the center of the neutral zone.

Dogecoin price analysis conclusion

The Dogecoin price analysis shows the cryptocurrency value has decreased today to a good extent as the price has been on the downfall for the last eight hours since the start of the trading session. We expect the DOGE/USD to continue downside in the coming hours if the market pressure persists, as bearish pressure is still there.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.