Dogecoin is grinding lower from $0.079 to $0.078, shedding $0.001 (1.04%) today.
Despite being in the red so far in the current trading session, Dogecoin peaked above its 3 day Simple Moving Average around $0.08 — typically an early indicator of a new bullish trend beginning to emerge. DOGE's lower Bollinger Band® is at $0.074, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. On the other hand, note that 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems Dogecoin is set to appreciate despite today's setback.
In the meantime, negative performances are also seen in other markets, Ripple closed at $0.342 (down 2.62%). After ending today's session at $251.33, Binance Coin lost $4.1 and is trading around $247.23. Litecoin is down $1.14 from the beginning of the session and now trades around $63.43.
DOGE is now trading 58.71% below the significant high of $0.191 it set around 11 months ago. Dogecoin is currently trading with a market cap of 10.34 billion with an average daily volume of 198.65 million.