• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain

Dogecoin Continues On A Downtrend Post A Mini Revival

anushsamal by anushsamal
1 year ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

The crypto market overall noted gains in the last 24 hours reversing certain effects of the recent bloodbath. Dogecoin on the other hand particularly saw some extreme choppiness over the past week or so. It is however too soon to say if the market is on its way to a solid recovery. Bitcoin was priced at $41k, as it recently toppled over the $40,000 mark marking a sharp increase by 8% over the past day. 

The price of the meme-coin nose-dived by 10% since the beginning of March, ever since which all eyes have been fixed on Dogecoin. Although Dogecoin in the last week had managed to secure a break-out from the downtrend, the bears continued to claw the price momentum down.

Related Reading | Bitcoin Trading Volume Has Now Stabilized At High Values, But For How Long?

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

 Price Analysis: DOGE/USD Four-Hour Chart 

Image Source – Trading View DOGE/USD Four-Hour

The price of Dogecoin stands at $0.120 at the time of writing. On February 24, the meme-coin had plummeted to a multi-month low of $0.112. At press time, the coin manages to stand just a few notches above the aforementioned price. 

In the last 24 hours, however, Dogecoin has tried to break out of the downtrend. The coin managed to revisit the $0.118 price floor, however, the bulls have most likely jumped ship again and Dogecoin is back to trading close to the $0.118 price support line. With a continued downtrend, Doge could again target its ten-month low price level of $0.112. 

The technical outlook of the coin continues to flash an extremely bearish signal as the asset witnessed selling strength again. There is a robust resistance level at the $0.134 price level as the token had tried to break past that level at the beginning of March. Doge was unable to trade anywhere close to it ever since March began. 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

The asset was seen trading below the 20-SMA mark which signified that sellers regained the price momentum in the market. After witnessing a death cross, as the 50-SMA line was over the 20-SMA line last week, the coin continued its downtrend. The volume of Dogecoin also flashed a decline along with the past two trading sessions closing in red as seen on the chart. 

Fear Index Continues To Look Grim

For most of March so far, the market barely witnessed any buying strength, the coin has tried to bring in buyers in the past 24 hours however it failed to hold its momentum. The Relative Strength Index reflects the same reading as the indicator slowly crept below the half-line at press time, indicating a selling strength again. 

Related Reading | Monero And Zcash Take Off With 15% Gains, Here’s What May Have Spurred The Rally

The Directional Movement Index was also negative which reaffirmed that buying momentum was on a decline as the -DI was above the +DI line. The Directional Movement Index usually indicates a price trend, whether the price trend is strongly up or down. The Average Directional Index also showed declining strength as it meant that the market could head into a price consolidation phase over the upcoming trading sessions. 

Fear Index – Fear Index of Dogecoin scored a 22, which corresponds to “Extreme Fear” on the Index. This reading signalled that buyers were scared to buy the asset and that the asset’s price momentum was bearish in nature. 

Tags: bitcoinDogecoinprice analysis
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
anushsamal

anushsamal

Related Posts

Utländska Casino – Bästa Utländska Spelsidor med Trustly

Utländska Casino – Bästa Utländska Spelsidor med Trustly

9 hours ago
Solana

Solana Posted Recent Gains But This Price Zone Remains Crucial

11 hours ago
Bitcoin

Bitcoin CME Gap at $28,000 Filled, But Correction Risk Looms

12 hours ago
Bitcoin

Bitcoin Shows 35.8% Weekly Gains: Why This Means The Top Is Near

13 hours ago
Binance's BNB emerges top gainer

Binance’s BNB Emerges Top Gainer Among Large Altcoins, Here’s Why

14 hours ago
Taiwan regulations

Taiwan Follows Hong Kong With Plans To Regulate Crypto

15 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Aave News Points To Head Of Development In Search Of AI Solutions – Avorak AI Proves Itself In ICO Phase

March 20, 2023

New Meme Project Love Hate Inu Raises $1 Million & Enters Stage 2 of Presale

March 20, 2023

TMS Network (TMSN) Holders Enjoy Gains in Presale Attracting New Investors from PancakeSwap (CAKE) And Algorand (ALGO)

March 20, 2023

USD Coin (USDC) And Cardano (ADA) Suffer Losses While TMS Network (TMSN) Explodes in Presales

March 20, 2023

TMS Network (TMSN) Emerges as the New Favorite of Investors, Leaving Filecoin (FIL) and Arweave (AR) in the Dust

March 20, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.