The performance graph surrounding Dogecoin (DOGE) shows that the bulls are making constant efforts to boost the price of DOGE. The data suggests that the bulls are making constant attempts of buying DOGE and bring it above the $0.22 per DOGE figure. The particular price for DOGE is the 20-day EMA that the performance graph shows for the meme coin.
Still, all the efforts and struggles made by the bulls have gone in vain. Still, the bulls are making all the efforts of pushing DOGE above the particular price.
Despite all the efforts, the bears have the lead as they have been going for sales just as the price of DOGE starts growing a bit. This goes to show that majority of the investors have bearish and negative sentiments against the meme coin. Therefore, the moment DOGE starts building a rally, the bears start selling the currency for a short gain.
From TradingView, the performance chart for DOGE shows that the price of meme coins is constantly diving in the lower direction. So far, the data shows that the price for DOGE is moving down the 20-day EMA. Even the relative strength index (RSI) for DOGE is now moving in the lower direction.
The RSI for DOGE is moving below the 36 line. The graph shows that with every dip, the price of DOGE is moving towards the least resistant price. It is expected that the price of DOGE may continue falling until it manages to reach a point where it is at the least resistant figure.
According to the analysts, the price of DOGE is expected to experience yet another drop in its price. The analysts predict that if the price of DOGE falls below the $0.19 per DOGE figure, it will continue sinking.
The prediction suggests that if the price of DOGE continues sinking, it may drop all the way down to $0.15 per DOGE. The data suggests that the $0.15 per DOGE price may end up being the critical support for the meme coin.
The analysts have also made predictions for DOGE in the upward direction. The analysts suggest that if DOGE manages to make it over the $0.19 price, it will help it grow over the $0.22 per DOGE (20-day EMA).
Once the price of DOGE crosses the 20-day EMA, it will end up growing even higher. The data suggests that once DOGE crosses the 20-day EMA, the investments for DOGE may keep pouring in at a lower level.
The meme coin will continue accumulating a rally at the lower level, which may set it up for another rally. The analysts predict that the price for DOGE may grow over the $0.24 per DOGE figure, which is the 20-day EMA.