Dogecoin [DOGE] has stuttered in its pursuit of surging above $0.25

Even as Bitcoin’s [BTC] price movement was stuck in the predictable range, altcoins have strived for higher. Dogecoin [DOGE], on the other hand, made a quick succession downward after staging recovery patterns over the past week. This trend was enough to extend its weekly losses to 8.43%.

Several crypto-asset exhibited weakness along with DOGE as the global crypto market hovered over $1.46 trillion. The decreasing volatility in the DOGE market was also concerning.

Over the past 24-hours, Dogecoin [DOGE] declined by 0.23% which drove its price to $0.234. At the time of writing, the digital asset recorded a market cap of billion $30.56 billion and a 24-hour trading volume of $1.23 billion.

Dogecoin [DOGE] Daily Price Chart:

Dogecoin [DOGE] slipped back to its nearest support as depicted on the above daily chart. This trend was accompanied by the 50 DMA [Pink] and the 100 DMA [Blue] suffering a bearish crossover while hovering above the candlestick arrangement.

The 200 DMA [Yellow], on the other hand, settled below the DOGE candles. Another cause of worry was the depreciating trading volume which can thwart hints of a bullish move.

The dotted markers of Parabolic SAR aligned below the DOGE candles depicted a promising picture for the crypto-asset. The green closing bars of Awesome Oscillator [AO] exhibited that the weak bullish momentum has declined and could soon result in a flip to the red territory.

The RSI appeared to be declining in tandem with the downsloping price action of DOGE below the 50 median line suggesting a sentiment of rising sell pressure in the market.

Dogecoin will have to steer clear from the moving averages at $0.30 to recapture its lost momentum and surge to resistance levels of $0.43, $0.55, and $0.69. However, with the build-up of selling pressure in the market, the bears may try to sink the price to its nearest support level of $0.169, a breach of which could further result in the coin testing a low of $0.05.