DOGE down $0.001, closing at $0.065, for its 7th straight negative day

DOGE is grinding lower from $0.066 to $0.065, shedding $0.001 (1.44%) today.

Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Momentum evaluation shows that the Relative Strength Index indicates Dogecoin is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Analysis based on the asset volatility indicates that DOGE's lower Bollinger Band® is at $0.064, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Chart analysis indicates Dogecoin could begin to recover as it approaches significant support, now 1 cents away from $0.062. Dipping below could be an indication that further losses are ahead.

All in all, the technical analysis suggests Dogecoin has no clear-cut direction.

In the meantime, negative performances are also seen in other markets, Litecoin closed at $71.06 (down 7.44%). After ending today's session at $0.059, TRON lost $0.002 and is trading around $0.057.

Positive performances can be seen by looking at other markets as FTX Token leaps up 9.54% to trade around $1.36.

DOGE is now trading 32.26% below its 3-month high of $0.16. Dogecoin is currently trading with a market cap of 8.63 billion with an average daily volume of 355.64 million.