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June 10, 2023
Having ended the last trading session at $0.07, DOGE dropped to $0.059 today, hitting its lowest point in 7 months. Later, it recovered $0.003 and is now trading at $0.062.
Dogecoin reversed direction at $0.056 support zone and climbed 1 cents above it. Despite being in the red so far in the current trading session, DOGE peaked above its 10 day Simple Moving Average around $0.07 — typically an early indicator of a new bullish trend beginning to emerge. DOGE's lower Bollinger Band® is at $0.062, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems Dogecoin is set to appreciate despite today's setback.
In the meantime, negative performances are also seen in other markets, Litecoin plunges 13.23% to trade around $77.46. Avalanche falls 15% to trade around $11.69. MaticNetwork USD is down to $0.615, losing $0.111, after closing at $0.726 in the preceding trading session.
Having soared to a high of $0.142 approximately 7 months ago, DOGE is now trading 51.09% lower. Dogecoin is currently trading with a market cap of 8.66 billion with an average daily volume of 250.42 million.
