DOGE Drops Below $0.060; More Downs May Play Out

The Dogecoin price prediction shows that DOGE is moving below the opening price of $0.062 as the coin heads to the south.

Dogecoin Prediction Statistics Data:

• Dogecoin price now – $0.056
• Dogecoin market cap – $7.4 billion
• Dogecoin circulating supply – 132.6 billion
• Dogecoin total supply – 132.6 billion
• Dogecoin Coinmarketcap ranking – #10

DOGE/USD Market

Key Levels:

Resistance levels: $0.085, $0.090, $0.100

Support levels: $0.025, $0.020, $0.015

DOGE/USD has been dropping with a bearish bias below the 9-day and 21-day moving averages. The coin opens at $0.062 and currently sliding below the support level of $0.060. Dogecoin price is likely to face more downtrends as the coin moves toward the lower boundary of the channel.

Dogecoin Price Prediction: Next Direction for Dogecoin?

The Dogecoin price is at the moment trading below the 9-day and 21-day moving averages. On the downside, there is a close below the $0.055 level as the coin may break move downtrends. With the look of things, dropping further could open the doors for more losses, and the price may slide below the $0.050 level. More so, should it spike below this support level, the critical support levels of $0.025, $0.020, and $0.015 may come into focus as the technical indicator Relative Strength Index (14) moves around the 30-level.

On the contrary, DOGE/USD could recover above the moving averages if the bulls step back into the market. On the upside, the next major resistance could be located around the $0.080 level. However, the price may need to climb above the upper boundary of the channel for it to hit the resistance levels of $0.085, $0.090, and $0.095. If not, there is a risk of more downsides toward the south.

Against Bitcoin, the Dogecoin price is hovering above the 9-day and 21-day moving averages, though, trading on the negative side. However, the technical indicator Relative Strength Index (14) confirms the bearish movement as the signal line nosedives below 50-level.

More so, if DOGE/BTC drops below the moving averages, then the market would have to be considered bearish, and the support level could be located at 230 SAT and below. Meanwhile, to resume higher, the price of Dogecoin must rise much higher and break above the 330 SAT level and above.

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