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July 02, 2023DOGE goes up to $0.069 after dipping down to $0.067 earlier.
Dogecoin could be slowing down soon as it approaches resistance at $0.07. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw DOGE dropping below its 50 day Simple Moving Average at $0.068 — an early indicator that a new downward trend could be emerging. A "hanging man” chart pattern. When appearing at the top of a bullish trend, it is typically considered to be an indication of a trend reversal. Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.07, thereby suggesting that Dogecoin is becoming overvalued.
Technical analysis suggests there could be an imminent reversal for Dogecoin.
Other markets are also showing gains as FTX Token gained 9.54% and is currently trading at $1.36.
At the same time, EOS is down to $0.758, losing $0.028, after closing at $0.786 in the preceding trading session. After ending today's session at $0.127, Algorand USD lost $0.005 and is trading around $0.122.
7 months ago Dogecoin reached a significant high of $0.142 but has consequently lost 51.81% since then. Dogecoin has a market cap of 9.63 billion with an average daily volume of 271.16 million.
