Dogecoin price analysis for Feb 18, 2022, confirms that the token is holding above the support of $0.14. However, the indicators have turned bullish, and there is a huge chance that this support might not hold. But, the meme coin is full of surprises. Our DOGE price analysis for Feb 18, 2022 confirmed that DOGE failed to break above $0.15.
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The data from CoinMarketCap shows that the trading volume of the token surged 56.03%, followed by a 4.14% drop in the market cap. The Market Dominance of the meme coin is around 1.01%, followed by a Volume / Market Cap Ratio of 0.03964. Moreover, the market rank of the token stands at 11.
The daily candle of the token opened at a price of $0.1383, followed by a daily high of $0.1414. Moreover, the daily low of the token stands at a price of $0.1377. The price of Dogecoin at the time of writing stands at $0.1410.
Dogecoin price analysis for Feb 18, 2022, on the daily chart
The Dogecoin price analysis for Feb 18, 2022, confirms that the token is following a bearish trajectory. However, we will try to predict future prices using these 3 indicators.
The RSI indicator shows that the bears are in control as the line has dipped into the bearish zone and currently reads 43.64. Moreover, the gradient of the line is negative overall, with a short spike for today.
The MACD indicator shows that the MACD line (blue) has dipped below the signal line (orange), which confirms a bearish divergence, which might lead to lower prices. The MACD histogram has also turned bearish.
The price action has dropped into the lower region of the Bollinger Bands which means that if Dogecoin loses support at $0.14, there is a chance that DOGE breaks out of the lower end of the Bands.
Conclusion
Dogecoin price analysis for Feb 18, 2022, confirms that there is a big chance that the support at $0.14 might now hold. However, it all eventually depends on the price trajectory of BTC.
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