Dogecoin eyes $0.06 price region: Key points to note

Dogecoin price analysis
Source: TradingView

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Dogecoin price analysis for June 19, 2022, comes on a bearish note for the meme coin as the chances of making higher highs in the coming days are not very optimistic. For the time being, investors can expect DOGE to make an attempt to breach the $0.06 price region but the buying volume for the token remains low. As noted in our DOGE price analysis for June 18, 2022, the meme coin has considerable support at the $0.05 price region and if this region holds, DOGE will retain its position among the top 10 cryptocurrencies in the space.

The data from CoinMarketCap shows that the trading volume for Dogecoin has surged by 131.52% in the last 24 hours, followed by a 5.65% surge in the market cap. Moreover, the Market Dominance of the coin rose to 0.88%, while the Volume / Market Cap Ratio has a value of 0.1444.

The daily candle for Dogecoin opened at a price of $0.05289 and reached a daily high of $0.05977. Furthermore, the daily low for the coin stands at a price of $0.05116, and the price of 1 DOGE at the time of writing is $0.05676.

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Dogecoin price analysis on the daily chart for June 19

Dogecoin price analysis on the daily chart for June 19, 2022, will consider the data presented by 3 major indicators on the daily chart below.

Dogecoin price analysis
Source: TradingView

The RSI indicator reads a value below 35 which means that the bulls are closing in on the bears and Dogecoin is no longer oversold.

The MACD indicator shows that the MACD line remains below the signal line but as the two lines come closer, we can expect a bullish divergence.

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The price action for Dogecoin is situated in the bearish region of the Bollinger Bands and investors can expect the histogram to remain bullish.

Conclusion

Dogecoin price analysis for June 19, 2022, ends on a bearish note for the meme coin with considerable chances of retaining $0.05.

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