Dogecoin price analysis is giving indications of a bearish downturn in the DOGE/USD pair. The digital asset's value dipped below $0.07812 and lost 1.09% of its worth in the last 24 hours. This spiraling downward trend has been triggered due to failing to make any substantial gains despite positive movements in other cryptocurrencies. The bearish forces are actively pushing the values lower, and if left unchecked, they could lead to a greater plummet in prices.

At the time of writing, the Dogecoin had a trading volume of $259 million and was placed 8th in CoinMarketCap's chart for the biggest digital assets according to market capitalization. This was estimated to be around $10.8 billion. Analyzing the 1-day chart, it is seen that the bear pressure has escalated and pushed the prices down to its current rate. The support for DOGE/USD is found at $0.07733. If it fails to be broken, there may be a further drop off towards the key support line of $0.07725 which has potential to fuel down the prices significantly. The prices need to overcome the $0.07904 resistance level before recording any significant hike otherwise it will remain bound to the bearish pressure.

The moving averages verify the situation of a bearish trend in the DOGE/USD pair. The 50-day one is crossing below the 100-day one, and the RSI indicator quotes a 42.06 point, not falling under the neither overbought nor oversold conditions. The MACD indicator reports that the signal line (blue) is positioned above the histogram (red) which indicates that a dips in prices are likely for the upcoming days.

Considering the 4-hour chart, the price levels fail to improve since the beginning of the timeframe, the fall was reported to be around 1.09%. The MACD indicator looks at the bearish zone as the signal line is seen to be above the MACD line. The RSI indicator posts a 38.13 score as the market has gone into the oversold region and features potential of retrieving in upcoming exchanges. The MA line on this chart has crossed below the candlesticks which proves that the market undergoes a bearish trend.

Overall Dogecoin is facing a low period with no sign of improvement in the future. The $0.07904 resistance point must be broken or else the values will remain prone to the bearish pressure.



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