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April 21, 2023
Dogecoin slides down from $0.084 to $0.078 today, losing $0.006 (7%).
Dogecoin made an initial break below its 200 day Simple Moving Average at $0.082, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $0.082 currently serving as support. If price action breaks below, the next Fib hurdle is $0.078. In contrast, DOGE's lower Bollinger Band® is at $0.077, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for DOGE.
In the meantime, negative performances are also seen in other markets, Ripple drops 6.1% to trade around $0.447. After ending today's session at $90.38, Litecoin lost $4.58 and is trading around $85.8.
Positive performances can be seen by looking at other markets as FTX Token is up 9.54% to $1.36.
Having soared to a high of $0.153 approximately 11 months ago, DOGE is now trading 45.24% lower. DOGE has a market cap of 10.87 billion with an average daily volume of 1.12 billion.
