• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • 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
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • 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
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Dogecoin Price

Dogecoin Price Movement Thwarted By Sellers, What’s Next On Chart?

anushsamal by anushsamal
5 months ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Dogecoin price has witnessed a steep fall in the past week. It lost 15% of its market value in that given time duration. Over the last 24 hours, DOGE fell by 0.7%. The current price action pointed towards a range-bound movement.

If Dogecoin price continues to consolidate it might fall below its closest line of support. If the bulls attempt to rise the price of the altcoin higher than its current level then it might trade above its resistance mark.

Ever since broad market weakness stepped in, many altcoins have fallen on their respective charts. The technical outlook of Dogecoin price continues to indicate that there are chances of the bulls overtaking the bears provided buyers cooperate.

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!

Bulls will continue to struggle with overhead resistance from the lack of buyers in the market. Dogecoin price had bought in 4% rise recently, however, the bulls could not sustain that. This also pointed toward demand for the coin at the lower price levels.

Dogecoin Price Analysis: Four-Hour Chart

Dogecoin Price
Dogecoin was priced at $0.068 on the four-hour chart | Source: DOGEUSD on TradingView

DOGE was trading at $0.068 at the time of writing. It was recently defeated at the $0.071 price mark as sellers pulled the price down. This was because of the high demand for DOGE at lower levels. Overhead resistance for the coin stood at $0.070.

If Dogecoin price trades above that price mark, the next resistance would be at $0.072. The nearby support level for the meme-coin awaited at $0.056. A fall in trading volume of the meme-coin displayed a rise in selling pressure. For the coin to break past the resistance, buyers have to re-enter the market.

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

Technical Analysis

Dogecoin Price
Dogecoin depicted a fall in buying pressure on the four-hour chart | Source: DOGEUSD on TradingView

DOGE has noted a fall in demand and therefore buyers too have left the market at press time. This could be a momentary observation as other indicators were starting to turn positive on the chart. The Relative Strength Index moved south below the half-line proving that sellers were in charge.

On the other hand, Dogecoin price was above the 20-SMA line, meaning that buyers were driving the price momentum in the market. If buyers act on the current price action then a move to the price ceiling will be over the next trading sessions.

Related Reading: Crypto Market Returns Plunges Into The Negative, Here’s Why
Dogecoin Price
Dogecoin displayed buy signal on the four-hour chart | Source: DOGEUSD on TradingView

The meme-coin portrayed that it could be a good opportunity for buyers to step in. The Moving Average Convergence Divergence picture the price momentum and changes in that. MACD formed green signal bars after a bullish crossover, this is tied to a buy signal.

Chaikin Money Flow depicts capital inflows and outflows of a coin at a given period of time. CMF was above the half-line which meant that capital inflows were positive. There was a small downtick on the indicator despite which capital inflows exceeded outflows.

Related Reading: Ethereum ETH Back On Track Race, Will ETH Reclaim $2,000 again?
Featured image from Pexels, charts from TradingView.com
Tags: dogeDogecoindogeusddogeusdt
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
anushsamal

anushsamal

Related Posts

Binance Teams Up With Hong Kong Police To Fight Crypto Crime

Binance Teams Up With Hong Kong Police To Fight Crypto Crime

5 hours ago
crypto

Australia Gives Its Crypto Watchdogs More Teeth To Fight Scammers

6 hours ago
Bitcoin

Don’t Get Too Greedy On Bitcoin, Analyst Suggests, Here’s Why

18 hours ago
bitcoin price bear

Will Bitcoin Price Return To $20,000? Here’s What Investors Expect

19 hours ago
Solana

Solana Can Depreciate Further If It Doesn’t Breach Its Immediate Target

20 hours ago
Ethereum

Ethereum Burning Reaches New High, Is ETH Warming Up For Another Rally?

24 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Fantom And Decentraland Explode As Big Eyes Coin Raises $21M In Presale

February 4, 2023

The Metaverse Represents The Future of Web3: Decentraland (MANA), The Sandbox (SAND), and Snowfall Protocol (SNW) Lead the Way

February 4, 2023

Snowfall Protocol (SNW), Shiba Inu (SHIB), and Cronos (CRO) – The Best Cheap Cryptos to Buy Now

February 4, 2023

ApeCoin (APE), Dogecoin (DOGE), and Snowfall Protocol (SNW) – Three Great Coins for NFT Lovers

February 3, 2023

Turn Playtime into Paytime with RankerDAO’s Gaming Crypto Platform

February 3, 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.

  • Home
  • 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

© 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.