DOGE/USD Unable to Find Strong Foothold

After Price action in the DOGE/USD market rose by roughly 59 percent, due to a key fundamental factor, Dogecoin’s price is now on a free fall. Even now, technical indicators are showing that the bears are now strongly in control. Consequently, it is therefore critical to gain insight into what this market may hold for Traders.

DOGE’s Forecast Statistics Data:
DOGEs price: is $0.08165
Dogecoin’s market capitalization: $10.94 billion
DOGE circulating supply:  132.67 billion
Dogecoin overall supply: 132.67 billion
Dogecoin Coinmarketcap ranking: #9

Major Marks:
Resistance Marks: $0.08165, $0.08185, $0.09000
Support Marks: $0.08145, $0.08125, $0.08100

Dogecoin Price Prediction Today, November 10, 2022: DOGE/USD Is on a Free Fall Ride

The daily DOGE/USD chart portrays that price movement seems fully under the control of downward forces. Looking at recent price candles we can see that price action is trending very quickly toward the downside. It’s almost like falling under gravitational pull. This market behavior appears to be due to massive sell-off. Additionally judging by bears consistency it’s unlikely that the next Fibonacci level may serve as strong support for either retracement or correction. Furthermore, the Stochastic RSI is now deep in the oversold area, near the 1.00 level. At this point, the price may eventually slide to near $0.06000. However for now the price level of $0.07236 may soon be reached on a short-term basis.

Dogecoin Price Prediction Today, November 10, 2022: DOGE/BTC Seems Attempting a Retracement

The last price candle on the DOGE/BTC market chart a green price candlestick just formed above the Moving Average line. Consequently, this has put perhaps a temporary pause to price downtrend in this market. Very much like the behavior of the Bollinger indicator on the DOGE/USD chart this market still portrays that volatility is high. And, in this case, the price action is moving towards the downside, this implies that the downtrend may be too strong to retrace upward from this point. Therefore, price action is more likely to fall further downwards to 61.80 Fibonacci level of price 0.00000429.

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