Price of Dogecoin Enters Downtrend Zone
Dogecoin’s (DOGE) price is now on a downward trend, falling short of its all-time high of $0.10. The digital currency tried to break beyond the $0.09 barrier but was unable to keep up its ascent. Before rebounding and trading above its moving average lines, the price of DOGE fell to a low of $0.078.
Range of Dogecoin Exchanges
The alternative currency is anticipated to keep moving within the $0.07 to $0.09 trading range. On January 18, the coin’s previous low was hit. On January 31, purchasers tried to overcome the $0.09 barrier, but they were unable to maintain the upward trend. Dogecoin is now trading in a constrained band between $0.07 and $0.09 per unit as a result.
Dogecoin is continuing to decline.
The decline zone for Dogecoin has hit the 42 level, according the Relative Strength Index. The price bars are below the moving average lines, which suggests that the value of the currency may continue to decrease. The cryptocurrency may experience a decline in price while being in a strong trend with a daily stochastic level over 25.
Dogecoin Groups Together at Lower Prices
The price of Dogecoin has dropped to a lower level as it consolidates above its trading range. As it gets closer to the trading range, DOGE is anticipated to keep fluctuating between $0.07 and $0.09.