Dogecoin (DOGE), when penning down this analysis, was trading below $0.0035 but is one of the top 50 cryptos of the global market and is believed to have a concurrent momentum with that of Bitcoin.
In this regard, as Bitcoin price is seen consolidating below $12k since a notable time, Dogecoin also appears lacking traction and trades below 50.0% Fib level due to bearish intraday candles. With a lack of steady momentum, DOGE is drawing a bearish picture in the intraday and appears to mere loser, trading on a negative note.
DOGE Holds Flat Amid Bearish Pressure
Dogecoin, at the time of writing, was holding a flattish and moderate intraday volatile trend between 50.0% and 38.20% Fib levels. The bearish candlewick of DOGE/USD is slightly breaching the lower Bollinger band on a 24-hour chart. Despite the bearish outlook, Dogecoin holds support from the daily MAs at $0.0033 & $0.0025.
As per the above chart, the YTD movement of the coin has been drawing a flattish trend to a major extent except for the bullish candlewick and brief price spike at $0.0055. Eventually, with intermittent pullbacks and corrections, DOGE/USD has tested supports as low as $0.0028 in the previous month. Presently, the major support and resistance to watch out for lies at $0.0030 and $0.0040, respectively. As per the current trend and Dogecoin price prediction, the currency might face $0.0030 mark over the next few days.
