Mixed sentiment leads Dogecoin cryptocurrency to trade sideways; establishes tight $0.061 to $0.063 range

After dropping down to $0.061, Dogecoin recovers some losses and is currently trading at $0.062.

Dogecoin made an initial break below its 10 day Simple Moving Average at $0.062, a possible indication of a forthcoming negative trend. In contrast, DOGE is currently alternating around $0.062 with price action moving above and below this key level throughout the session.

Despite the market lacking direction, technical chart analysis strongly suggests DOGE is positioned for a downward move in the near term.

While Dogecoin is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin climbs 4% to trade around $27,900. Litecoin moves up 2.54% to trade around $79.38.

Dogecoin reached a significant high of $0.142 around 7 months ago but has lost 56.11% since then. Dogecoin has a market cap of 8.71 billion with an average daily volume of 264.21 million.