Can Dogecoin Slide Further? Key Technical Levels To Keep An Eye On - BitcoinEthereumNews.com
Dogecoin just broke below the price support level of $0.134 on the four-hour chart. Image Source: DOGE / USD on TradingView Dogecoin was trading for $0.1324 as it breached its support level of $0.1345 at the time of writing. The coin has been bearish and it has been trading in a descending chanel that is considered to be negative. Dogecoin experienced negative buying pressure on the four-hour chart. Image Source: DOGE / USD on TradingView Dogecoins prices were trading beneath the 20-SMA line, which is in accordance with increased selling pressure. Sellers were driving the price momentum in the market according to the 20-SMA line. A significant push from the buyers could provide a momentary respite to the coin. The Relative Strength Index was seen below the half-line signifying that buyers have exited the market. The asset was oversold and undervalued at the press time. Further oversold conditions can drag prices down to the next support level. Dogecoins price momentum remains negative on the four-hour chart. Image Source: DOGE/USD on TradingView Awesome Oscillator determines the price momentum of the coin. Dogecoin was on negative price momentum. AO projected red histograms underneath the half-line, which signifies a negative price momentum. Parabolic SAR is an indicator that helps to