A crypto trader and analyst named Crypto Rover posted a message this morning. tweetwith the recent drop in price dogecoin He said it was on the rise. But in the past 24 hours, DOGE has been one of the many cryptocurrencies to have suffered losses as we entered the weekend.
I’m buying more $DOGE here.
NEWS CONTINUES BELOWSmart or stupid? pic.twitter.com/6vTih94W8h
— Crypto Rover (@rovercrc) May 20, 2023
NEWS CONTINUES BELOW
Crypto market monitoring website CoinMarketCap noted that DOGE was trading at $0.07343 the past day, after a small price drop of 0.05%. This means that DOGE is trading closer to its daily low of $0.07323 than its daily high of $0.07396.
DOGE’s price drop also meme coinIt weakened the coin against two market leaders, Bitcoin (BTC) and Ethereum (ETH). At the time of writing DOGEIt fell 0.22% against BTC and 0.38% against ETH.
The decline in DOGE’s price wasn’t enough for its weekly performance to fall into the red. Because at the time of writing, DOGE has increased by 1.77% in the last seven days. Meanwhile, 24-hour trading volume has lost more than 50% over the past day to $137,654,992.
DOGE’s price had recently regained a position above the 9-day EMA line and was looking to do the same with the 20-day EMA. However, the slight negative slope of the daily RSI line indicated that BTC had lost some of its bullish momentum and was unable to overcome the longer EMA level.
If the bulls engage before the end of today’s trading session, there is still a chance for BTC price to turn the resistance level to support at $0.07737. It might want to do the same with the next resistance level at $0.08193. Conversely, a close below the 9-day EMA line today could cause BTC to drop to $0.06926 in the next 48 hours.
You can follow the current price action here.