Dogecoin (DOGE) Faces Critical Support Levels Amid Persistent Bearish Pressure
Release: 2024/07/08 15:03 Reading: 202
DOGE Falls Below $0.12 Support, Enters Crucial Price Range
Dogecoin (DOGE) has breached the $0.12 support level, entering a critical range between $0.096 and $0.10. Currently trading at $0.1079, DOGE has been under intense bearish pressure, losing 54% of its value in the past three months and 12.65% in the last week.
The Relative Strength Index (RSI) indicates that DOGE is in oversold territory, suggesting a potential bullish reversal. However, the coin's all-time high of $0.7316 remains 85.27% higher than its current price.
DOGE's market capitalization stands at $15.6 billion, with a circulating supply of 140 billion coins. The key question is whether DOGE can stabilize within the $0.096-$0.10 support range and regain its momentum.
The bearish trend has prevailed since DOGE reversed from its resistance level of $0.22. The memecoin has formed a descending triangle pattern, and its breakout below the $0.129 baseline confirms the bearish momentum.
Read more on CryptoTale.
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