| 
June 28, 2023
Dogecoin is consolidating around the $0.064 level after dropping $0.001 at the start of the trading session.
Dogecoin made an initial break below its 21 day Simple Moving Average at $0.064, a possible indication of a forthcoming negative trend. Dogecoin is currently flirting with an active Fibonacci support level around $0.065. Dogecoin's upper Bollinger Band® is at $0.068 which indicates a further downward move may follow. Despite this, a "hammer” chart pattern. When appearing during a bearish trend, as it is now, it is typically considered to be an indication of a trend reversal. DOGE is currently alternating around $0.065 with price action moving above and below this key level throughout the session.
Looking forward, Dogecoin is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, Algorand USD descends 5.08% to trade around $0.121. Cardano is trading around $0.276 (down $0.01).
Other assets are showing positive performances as FTX Token surges 9.54% to trade around $1.36.
Having set a significant high of $0.142 7 months ago, Dogecoin is trading 53.9% lower. Dogecoin is currently trading with a market cap of 9 billion with an average daily volume of 265 million.
