Despite increased price volatility in the cryptocurrency industry, the #Dogecoin price continues trading in a closed range between $0.128 and $0.155, highlighting a rising disinterest of investors. Moreover, the EMA 50-day acts as a resistance to the price chart, suggesting uncertainty in its price action.
Notably, the DOGE memecoin has recorded a correction of 0.10% over the past day with a trading volume of $889.89 Million during the same time, a jump of 49.56% over the past day.
The Moving Average Convergence Divergence (MACD) shows a constant decline in the histogram, highlighting increased selling-over-buying pressure in the crypto industry. Furthermore, the averages display a bearish convergence in the 1D time frame, suggesting a bearish outlook in the coming time.
If the market regains momentum, the bulls will prepare to test its resistance level of $0.155 by the upcoming weekend. Conversely, if the bears continue to dominate the market, the DOGE price will plunge toward its crucial support level of $0.128.