Dogecoin drops to the 12th position: $0.14 holds as support.

Dogecoin price analysis for April 21, 2022, comes on a bearish note for the token as chances of breaking into the $0.15 price zone seem quite low. This is now a major resistance for the token as chances of losing the $0.14 price support seem considerable for the meme coin. Furthermore, as noted in our DOGE price analysis for April 20, 2022, the DOGE bulls are currently being dominated by the bears in the market as it remains 80.90% low from its all-time high.

The data from CoinMarketCap shows that the trading volume for Dogecoin has surged by 34.31% in the last 24 hours, followed by a 2.19% drop in the market cap. Moreover, the Market Dominance of the token is now once again back below 0.97%, while the Volume / Market Cap Ratio has a value of 0.05376.

The daily candle for Dogecoin opened at a price of $0.1407 and reached a daily high of $0.1420. Furthermore, the daily low for the token stands at a price of $0.1404, and the price of 1 DOGE at the time of writing is $0.1409.

Dogecoin price analysis on the daily chart for April 21

Dogecoin price analysis on the daily chart for April 21 will take into account the data from the indicators integrated into the daily chart below.

Source: TradingView

The MACD indicator shows that the MACD line is below the signal line but the two are very close to each other which might lead to a bullish divergence. However, the chances of that are low.

The RSI indicator reads a value at 50 for Dogecoin which confirms that the bulls and bears are currently at par with each other and sluggish movement will continue. 

The price action aims to test the middle zone of the Bollinger Bands which means that investors can expect a breakout either way.

Conclusion

Dogecoin price analysis for April 21, 2022, ends on a bearish note for the token with considerable chances of losing $0.14.