DOGE Price Analysis: DOGE continues to retrace, with resistance at $0.15

DOGE price analysis is bearish today, due to a strong increase yesterday that was met with rejection at the $0.15 resistance. DOGE/USD has most likely retraced enough and will now continue dropping in line with the overall monthly trend. Over the last 24 hours, the market has moved in an upward trend. Bitcoin and Ethereum, the leaders, gained 0.96 and 0.75 %, respectively, while the rest of the leading altcoins were behind.

DOGE/USD traded in a $0.1446 – $0.1493 range during the last 24 hours, showing low volatility. The total market cap trades at about $19.36 billion, putting the coin in 11th place overall. Trading volume has decreased by 48.97 %, reaching $968.6 billion.

On the 4-hour chart, we can see Dogecoin price changes start to flip as buyers become exhausted again. So far in April, the price of Dogecoin has been highly volatile. Following a strong gain to $0.18 at the start of April, a fast reversal to $0.14 was followed on the 7th of April.

DOGE/USD then consolidated and attempted to move higher twice more, reaching $0.1575 on April 10th. Another drop began at the start of this week, resulting in a clear lower bottom hit of around $0.135.

Since then, the Dogecoin price has gradually retraced most of the previous day’s loss. Yesterday, the $0.15 mark was tested, and rejection was noted, signalling that the retracement may have come to an end. As a result, we predict that DOGE/USD bulls will be exhausted once more. More downside is likely to be tested soon, with $0.13 being the next significant support level.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

KAZ

CoinCu News