- The Dogecoin price is having a hard time trying to push above $0.18
- DOGE has not seen much recovery during the ongoing week, as the price struggles to push higher.
The Dogecoin price fell back during the ongoing session, unable to push past the strong resistance that has built around $0.18. DOGE had dropped significantly over the weekend, falling by over 10% on Saturday and over 4% on Sunday. The price recovered on Monday, rising to $0.17, but registered a marginal drop on Tuesday before rising by 1.19% on Wednesday. The current session sees DOGE back in the red as sellers take control of the session.
Dogecoin Price Chart Indicates DOGE Could Slip Below $0.17
The Dogecoin price started the previous week on a bullish note, as the price rose by almost 4% on Monday. However, it fell back on Tuesday, as DOGE registered a marginal drop. The price continued to drop on Wednesday, as it fell by 2.56% and settled at $0.20 before registering another marginal drop on Thursday. DOGE slipped below $0.20 on Friday, as sellers pushed the price down by 4.54% to $0.19.
Image: DOGE/USD daily
The Dogecoin price continued to drop over the weekend, registering a significant drop on Saturday and falling by over 10%, dropping to $0.17. On Sunday, the price remained in the red, as it fell by over 4%, ending the weekend on a bearish note. Despite the overall bearish sentiment, DOGE pushed up on Monday, rising by 3.67%; however, it fell back on Tuesday, registering a marginal drop, before pushing up by 1.19% on Wednesday.
The current session sees DOGE back in the red, with the Parabolic SAR still bearish, indicating that we could see the price drop further.
Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE faces strong resistance at around $0.17. At this price level, over 30,000 addresses have sold more than 9.9 billion DOGE.
The 4-hour Dogecoin price chart shows us that DOGE had slipped below the 20 and 50-bar SMAs on the 2nd, dropping to $0.20. With the 50-bar SMA acting as resistance, DOGE could not push beyond this level and fell back to $0.15 on the 4th. DOGE pushed up to $0.18 but fell back to $0.16 before pushing above the 20-bar SMA on the 7th, settling at $0.17. With the 20-bar SMA now acting as support, DOGE could stay at this level and is currently still at $0.17.
We can see that the MACD is currently bullish, but if DOGE is unable to push higher, it could flip back to bearish.
Image: DOGE/USD 4-hour
DOGE Price Is Expected To Reach These Levels
The Dogecoin price chart shows us that DOGE has been fairly static during the current week, with DOGE facing strong resistance. If the current sentiment continues, we could see DOGE slip below $0.17.