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February 22, 2023
DOGE goes up to $0.086 after dipping down to $0.083 earlier.
Despite posting gains so far today, Dogecoin slid below its 50 day Simple Moving Average at $0.084 in earlier trade — an early indicator that a negative trend could be emerging. In contrast, price action remains constrained around the key Fibonacci level of $0.087 currently serving as resistance
Overall, looking at the technical analysis landscape, it seems Dogecoin is likely to reverse course and start pointing down in the short term.
DOGE shows positive signs, other assets are also on par: FTX Token is up 9.54%. Tezos USD is up 6.75%.
At the same time, Solana goes down 5.52% to trade around $23.58.
Dogecoin has managed to gain 20.25% so far this year despite trading at lows around $0.053 previously. DOGE is currently trading with a market cap of 11.39 billion with an average daily volume of 408.73 million.
