Dogecoin fails to consolidate above $0.13: What’s next?

Dogecoin price analysis for April 30, 2022, comes on a bearish note for the token with increased chances of losing the 0.13 price region as well. In the last 24 hours, we have seen DOGE lose the $0.14 price region followed by a 1.8% price drop as well. Another important fact to note is that DOGE has lost its 10th position in the crypto market and is currently ranked 11th. As noted in our Dogecoin price analysis for April 29, 2022, the meme coin tried to retain its position above $0.14 but failed to do so.

The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 22.68% in the last 24 hours, followed by a 1.71% drop in the market cap. Moreover, the Market Dominance of the token dropped to 1.02%, while the Volume / Market Cap Ratio has a value of 0.05984.

The daily candle for Dogecoin opened at a price of $0.1350 and reached a daily high of $0.1368. Furthermore, the daily low for the token stands at a price of $0.1345, and the price of 1 DOGE at the time of writing is $0.1350.

Dogecoin price analysis on the daily chart for April 30

Dogecoin price analysis on the daily chart for April 30 will consider the data presented by 3 major indicators on the daily chart below.

Source: TradingView

The MACD indicator shows that the MACD line remains below the signal line which suggests that bears are in control of the price action.

The RSI indicator reads a value below 48 which confirms that the bears are gradually pushing the bears out of the market and it seems that lower prices might follow.

The price action is situated in the bearish region of the Bollinger Bands which means that investors can expect a bearish outburst for Dogecoin.

Conclusion

Dogecoin price analysis for April 30, 2022, ends on a bearish note for the token with increased chances of losing $0.13.