Bearish Dogecoin currently $0.003 lower after trading as high as $0.092

Trading lower, DOGE is currently down $0.003 as it ranges between $0.088 and $0.092 so far today.

Dogecoin made an initial break below its 5 day Simple Moving Average at $0.091, a possible indication of a forthcoming negative trend. Having stamped out a session range of $0.088 to $0.092, Fibonacci-inclined DOGE traders were highly concentrated around active Fibonacci support at $0.089. In contrast, although DOGE is pointing down today (was as low as $0.088), it's climbing away from the $0.091 support line and is now 1 cents above it.

In the short term, DOGE is expected to maintain its recent downtrend and continue spiralling lower.

In the meantime, negative performances are also seen in other markets, Cardano is down $0.009 from the beginning of the session and now trades around $0.383.

Other assets are showing positive performances as FTX Token is up 9.54%. Having closed the previous session at $1.19, EOS is up 3.36% today to currently trade at around $1.23.

DOGE has managed to gain 33.04% so far this year despite trading at lows around $0.053 previously. Dogecoin has a market cap of 12.37 billion with an average daily volume of 806.91 million.