According to CoinMarketCap data, the cryptocurrency trades at $0.1621, down more than 20% in the past 30 days and 7% in the last 24 hours. The trading volume of the token shot up 48% as the nearest resistance stands at the 20-day EMA at $0.17.
The weekly chart reveals that Dogecoin has slipped out of its long-standing ascending channel and is now retesting the upper boundary of a major demand zone between $0.12 and $0.17. Historically, DOGE prices have rebounded from this level, even during broader market downturns.
DOGE Price Analysis: What’s Next?
As per the weekly chart below, the RSI shows a hidden bullish divergence, with the indicator printing lower lows while price forms higher lows, an early sign that bearish momentum may be decelerating.
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Source www.coinspeaker.com
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