• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Dogecoin [DOGE] struggling to hold $0.24 support barrier
Dogecoin [DOGE]struggling to hold $0.24 support barrier

Dogecoin [DOGE] struggling to hold $0.24 support barrier

September 8, 2021 by Chayanika Deka

Dogecoin [DOGE] was ousted by Solana [SOL] to the eighth position. The meme-coin hasn’t been in the spotlight lately. After an impressive run-up this summer, the crypto-assets price action over the past few weeks has paled in comparison with other altcoins in the top 10 leaderboards. Despite reversing all the gains and posting a weekly loss of 12.34%, the volatility in the DOGE market has picked up.

Over the past 24-hours, Dogecoin [DOGE] was down by 12.91%, which drove its value to $0.247. At the time of writing, the digital asset held a market cap of $32.17 billion and a 24-hour trading volume of $5.95 billion.

Dogecoin [DOGE] Daily Price Chart:

DOGE1
Dogecoin [DOGE] struggling to hold $0.24 support barrier 4

The low volume has failed to back the uptrend. As a result, Dogecoin [DOGE] underwent a period of sideways trading before the September 7 fall. Following the flash crash, the token was back to levels last seen in the first week of August. Following the drop, the DOGE price candles slid below the 50 [Pink] and the 100 [Blue] moving averages that appeared, which were approaching a potential bullish crossover. The 200 DMA [Yellow], on the other hand, appeared to be resting below them, supporting the price from a further damaging turn of events.

DOge2
Dogecoin [DOGE] struggling to hold $0.24 support barrier 5

The technicals on Dogecoin’s daily chart did not look very promising. The dotted markers of Parabolic SAR shifted below the DOGE price candles, indicating a bearish trend. Additionally, the Klinger Oscillator [KO] also suffered a bearish cross and flashed red. A similar sentiment was demonstrated by the Relative Strength Index [RSI] that fell below 40-level for the first time since August, signaling the rising dominance of sellers in the coin market.

If the 200 DMA manages to provide firm support to the Dogecoin’s price within the demand zone ranging from $0.262 to $0.281, buying pressure may revive in the market. Upward price action in case of a bullish reversal could set the stage for $0.331, $0.424, and $0.559. However, a breach of the current level threatens a wider sell-off to the lows of $0.171 and the subsequent $0.05 respectively.

Filed Under: Altcoin News, News Tagged With: Dogecoin (DOGE)

Primary Sidebar

Recent Posts

  • Cardano’s Growth: Over 1M Wallets Engage In Smart Contracts On Base Test Network June 9, 2023
  • Bitcoin Whale Emerge From Its 10-Year Slumber; Moves $37M BTC Tokens June 9, 2023
  • XRP Lawsuit Holds Lot At Stake For Crypto Community June 9, 2023
  • Modernizing Transactions: 440 Merchants in France Now Support Shiba Inu, BTC, ETH June 9, 2023
  • Dogecoin on the Rise: 5 Million Wallets to Propel the Cryptocurrency with a 30% Rally June 9, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.