- Dogecoin token over the monthly chart indicates some weakness, whereas it falls below the major DMA lines of 20, 50, and 100-MA.
- The crypto asset has been trading under the downtrend for the past few days while making higher highs and lower lows.
- The pair of DOGE/BTC is trading on a negative note at 0.000005266 BTC with an intraday loss of -1.60%, and the ratio of DOGE/ETH is CMP at 0.00007279 ETH with a positive intraday action of +1.47%.
Dogecoin token is now reached near its primary support line of 200-Day, after facing rejection from higher levels. At the same time, it falls below its major DMA lines of 20, 50, and 200-Days. DOGE at the monthly chart is placed just above the 200-DMA line, which can be considered make or break levels. Meanwhile, in the present scenario, the bulls have to keep their eyes on the support line.
Volume at the chart is lower, which is continuously declining and falls below-average volume line. The volume needs to grow sharply for a substantial reversal, and the token must regain its 50 and 100-DMA lines. Support on the lower side is $0.2280 and $0.2165, whereas resistance on the higher side is $0.2680 and $0.3195.
Dogecoin token is CMP near oversold zone with neutral momentum
Dogecoin token is CMP near oversold zone with neutral momentum, after a sharp selloff. The coin has been trading near its lower area after consolidation for the past few trading sessions at the weekly time frame. Moreover, the volume at the chart is lower and needs to grow if bulls want a bounce back in upcoming sessions. Presently, the dogecoin token is trading at $0.2342 with an intraday action of -5.52%, and the volume to market cap ratio is at 0.05698.
Relative Strength Index (NEUTRAL): Dogecoin token RSI is reaching near the oversold zone after consolidation over the weekly chart. In contrast, the RSI trades near the oversold zone from where we can see a short-term bounce back and now CMP at 33.
Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates a mixed trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) overlaps the seller’s line (red) with an expected negative crossover.
Support levels: $0.2280 and $0.2165
Resistance levels: $0.2680 and $0.3195