In a range-bound session favoring short positions, Dogecoin remains constrained in a $0.086 to $0.087 range and is currently trading close to $0.086.
Dogecoin made an initial break below its 5 day Simple Moving Average at $0.086, a possible indication of a forthcoming negative trend. DOGE's upper Bollinger Band® is at $0.092 which indicates a further downward move may follow. In contrast, DOGE is oscillating around the $0.086 level serving as support.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Dogecoin to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Dogecoin is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, Ripple is trading around $0.413 (down $0.005).
Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. UNICORN Token USD is up 10.93%.
Dogecoin has managed to gain 23.12% so far this year despite trading at lows around $0.053 previously. Dogecoin has a market cap of 11.43 billion with an average daily volume of 148.73 million.