Dogecoin Price (DOGE) Slips Alongside Bitcoin and Ethereum: Market Analysis

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,788,618,220,865	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,788,618,220,865

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-45.50	-0.05%	90,536.48	90,523.75	90,529.75

Price Change

Price Change %

Current Price

Bid Price

Offer

-45.50

-0.05%

90,536.48

90,523.75

90,529.75

High Price	Low Price	Open Price	Prev. Close	52 Week Range
90,935.79	89,400.00	90,714.56	90,581.98	35,773.27 - 93,495.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

90,935.79

89,400.00

90,714.56

90,581.98

35,773.27 - 93,495.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	07:38:08	0.000584	90,536.48	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

07:38:08

0.000584

90,536.48

USD

Price x Volume	Volume	Base Symbol	Related Pairs
204,080,646.58	2,260.72	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

204,080,646.58

2,260.72

Dogecoin Price (DOGE) Slips Alongside Bitcoin and Ethereum: Market Analysis

05/08/2024 6:58am

NEWSBTC

Dogecoin started a major decline below the $0.1150 zone against the US Dollar. DOGE is now trading below $0.100 and showing many bearish signs. DOGE price is down over 15% from well above the $0.1200 pivot zone. The price is trading below the $0.100 level and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.1000 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to move down unless it reclaims the $0.100 resistance zone. Dogecoin Price Drops Over 15% In the past few sessions, Dogecoin price saw a major decline like Bitcoin and Ethereum. The bears took control and pushed the price below the $0.1120 and $0.1050 support levels. The price even declined below the $0.1000 support. A low was formed at $0.0881 and DOGE price is now consolidating losses. The price is showing many bearish signs below the 23.6% Fib retracement level of the downward move from the $0.1194 swing high to the $0.0881 low. Dogecoin is now trading below the $0.100 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.0950 level. The next major resistance is near the $0.1000 level. There is also a key bearish trend line forming with resistance at $0.1000 on the hourly chart of the DOGE/USD pair. A close above the $0.100 resistance might send the price toward the $0.1040 resistance or the 50% Fib retracement level of the downward move from the $0.1194 swing high to the $0.0881 low. Any more gains might send the price toward the $0.1080 level. The next major stop for the bulls might be $0.1120. More Downsides In DOGE? If DOGE’s price fails to recover above the $0.1000 level, it could start another decline. Initial support on the downside is near the $0.0880 level. The next major support is near the $0.0850 level. The main support sits at $0.0780. If there is a downside break below the $0.0780 support, the price could decline further. In the stated case, the price might decline toward the $0.0720 level. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.0880 and $0.0780. Major Resistance Levels – $0.0950 and $0.1000.

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