Doge crashes by 20 % in three days, how deep can it go? (Dogecoin price analysis)

Doge crashes by 20 % in three days, how deep can it go? (Dogecoin price analysis)

Since the Doge buyers no longer had air, the price fell and is now approaching the important support.

Important support levels: 0.07 $

Important resistance level: 0.11 $

After a significant increase in price, the bulls failed to drive it higher, and he has lost 20 % of his evaluation in the past three days. This brings Doge on a clear way to test the key support again at 7 cents. If it holds, buyers could try to reverse the current declining momentum. The resistance remains strongly at 11 cents.

Diagram of Tradingview

trade volume: The sales volume exceeds the purchase volume after the price increase, which explains why the bears currently have the upper hand.

rsi : The daily RSI is just over 50 points. If the bulls manage to keep it there, they could control the price movement.

macd : The daily MacD is flat, but the moving average remains bullish and the momentum could return.

Diagram of TradingView

bias

The tendency for Doge is currently declining.

short-term prediction for the Doge Prize

At a price of about 8 cents, buyers could return to Doge, as it approaches key support at 7 cents. Dogecoin could also enter a quieter phase in which the price could move sideways for a while until the dynamic returns.

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