Dogecoin least affected by the crypto market sell-off: Buy now?

Dogecoin price analysis
Source: TradingView

Dogecoin price analysis for July 2, 2022, comes on a bearish note for the biggest meme coin in the crypto market as we can confirm that the DOGE token has failed to break into an uptrend and it seems that investors can expect lower prices in the coming days as well. However, an important fact to note is that the DOGE token is the least affected token from the crypto sell-off which confirms that the meme coin might aim to make higher highs soon. As noted in our DOGE price analysis for July 1, 2022, there is strong support for the meme coin at $0.06.

The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 21.55% in the last 24 hours, followed by a 1.53% drop in the market cap. Moreover, the Market Dominance of the coin rose to 1.02%, while the Volume / Market Cap Ratio has a value of 0.05254.

The daily candle for Dogecoin opened at a price of $0.06645 and reached a daily high of $0.06788. Furthermore, the daily low for the coin stands at a price of $0.06550, and the price of 1 DOGE at the time of writing is $0.06619.

Dogecoin price analysis on the daily chart for July 2

Dogecoin price analysis on the daily chart for July 2, 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 47 which means that the Dogecoin bulls haven’t been pushed out of the market.

The MACD indicator shows that the MACD line is coming very close to the signal line while the bullish intensity of the MACD histogram continues to decrease.

The price action for Dogecoin is retesting the middle of the Bollinger Bands and lower prices can be seen soon.

Conclusion

Dogecoin price analysis for July 2, 2022, ends on a bearish note for the meme coin with high chances of losing $0.06.

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