- The Dogecoin price is marginally down during the ongoing session, as sellers look to drive the price down.
- DOGE has been relatively bearish during recent sessions and had dropped by almost 6% on Monday.
The Dogecoin price is marginally down as buyers and sellers look to establish control during the ongoing session. DOGE had ended the weekend in the red, dropping by almost 4% on Sunday. DOGE continued to drop on Monday, falling by almost 6% and settling at $0.128, before making a fairly strong recovery on Wednesday and rising to $0.131. The current session sees DOGE in the red as buyers and sellers look to take control.
Dogecoin Price Chart Indicates Buyers And Sellers Struggling To Establish Control
The Dogecoin price had started the previous week in the red, dropping below the 20-day SMA on Monday and settling at $0.146. However, DOGE made a strong recovery on Tuesday, pushing back above the 20-day SMA and settling at $0.152. DOGE fell back in the red on Wednesday, falling by 2.11%, and then going below the 20-day SMA on Thursday, falling by almost 7% and settling at $0.138. Friday saw DOGE remain static, as the price stayed at $0.138.
Image: DOGE/USD daily
The Dogecoin price managed to push higher over the weekend, rising by 2.02% on Saturday and then dropping by 3.54% on Sunday to end the weekend at $0.136. Monday saw the bearish sentiment intensify, as the price fell by almost 6%, dropping to $0.128, before recovering on Tuesday, rising by 2.42% and moving to $0.131. The current session sees DOGE back in the red as sellers push the price below $0.130.
We can see that the Parabolic SAR has flipped to bearish, indicating that we could see the price drop.
Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE faces strong resistance at around $0.143. At this price level, over 64,000 addresses have sold more than 8.7 billion DOGE.
The 4-hour Dogecoin price chart shows us that DOGE had dropped to $0.138 on the 18th and then registered a marginal recovery, rising to $0.141. The price fell back from this level, dropping to $0.138 and then pushing up to $0.143. At this level, the 20-bar SMA acted as resistance, and the price fell back, dropping to $0.137 on the 20th. The price pushed back above this level, moving above the 20-bar SMA to $0.140. However, DOGE could not stay at this level and fell back significantly, dropping back below the 20-bar SMA and settling at $0.125 on the 22nd. The price made a strong recovery from this level, rising to $0.134 before dropping to its current level of $0.129.
We can see that the Parabolic SAR and MACD are both bullish. However, if DOGE continues to drop, we could see them flip to bearish.
Image: DOGE/USD 4-hour
DOGE Price Is Expected To Reach These Levels
Looking at the Dogecoin price chart, we can see that DOGE has registered a marginal drop during the ongoing session as it struggles to stay above $0.130. If the current sentiment persists, DOGE could drop towards $0.125.