Dogecoin Technical Analysis: DOGE Continues To Drop, Could Slip To $0.19

Daily Dogecoin Price Analysis

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Last Updated November 29th 2021
2 Min Read
  • The Dogecoin price continued to drop over the weekend as the price slipped below $0.20. 
  • DOGE has been quite bearish lately and had registered a drop of almost 9% on Friday. 

The Dogecoin continued to drop during the ongoing session, with sellers in control and looking to push the price towards $0.18. DOGE had registered an increase of 1.46% on Thursday, but the price fell back significantly on Friday, as sellers pushed it down by 8.76% to $0.20. The price pushed up on Saturday, rising by over 2%, but dropped back into the red during the ongoing session, with DOGE currently down by almost 3%. 

Dogecoin Price Chart Indicates DOGE Could Slip Below $0.19

The Dogecoin price started the previous weekend, registering a marginal increase of 0.26%. The price fell back on Sunday, falling by 3.34% and settling at $0.22. The week started in the same vein for DOGE, as sellers pushed the price down by 2.77% on Monday. DOGE recovered on Tuesday as the price rose by over 3%, moving to $0.22. However, the price fell back on Wednesday, as it registered a drop of almost 4% and settled at $0.21.

Image: DOGE/USD daily

DOGE/USD daily chart 112921

After falling by almost 4% on Wednesday, the Dogecoin price recovered on Thursday, as it rose by 1.47%. However, sellers took control once again on Friday, as they pushed the price down by almost 9%, dropping it to $0.20. DOGE recovered on Saturday, as it rose by 2.11%, but fell back on Sunday, with the price currently down by just over 3% at $0.19.

We can see that the Parabolic SAR is currently bearish, indicating that the price could drop during the current session.

Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE faces strong resistance at around $0.22. At this price level, over 59,000 addresses have sold more than 6.6 billion DOGE.

Image: IntoTheBlock

DOGE/USD volume chart 112921

The 4-hour Dogecoin price chart shows us that DOGE had slipped below the 20-bar SMA on the 22nd, dropping to $0.22. The price could only push up marginally from this level before dropping to $0.21. DOGE could maintain this level for the next few sessions before it pushed above the 20-bar SMA on the 23rd, rising to $0.23. The 50-bar SMA was acting as resistance at this level, and the price dropped to $0.21, slipping back below the 20-bar SMA. The price pushed back up from this level, as it rose to $0.22 on the 26th but fell back below the 20-bar SMA and dropped to $0.19. DOGE could only register a marginal increase from this point, rising to $0.20.

Looking at the MACD, we can see it is currently bearish, indicating that the price could drop further.

Image: DOGE/USD 4-hour

DOGE/USD 4-hour chart 112921

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we see that DOGE is still bearish during the ongoing session. If the current sentiment persists, we could see the price drop to $0.19 or below. However, if the price manages to recover, DOGE could push beyond $0.20.