Dogecoin loses $0.12: Indicators suggest that $0.10 won’t hold as support

Dogecoin price analysis for March 14, 2022, confirms that the people’s favorite meme coin remains one of the weaker altcoins since the past few days. Despite the market being bearish since November, some cryptocurrencies have performed quite well. However, DOGE hasn’t been able to break above the $0.17 price zone for a number of weeks. As noted in our DOGE price analysis for March 10, the token has dipped in double digits for March’s monthly candle.

The data from CoinMarketCap shows that the trading volume of the token has jumped over 214.57% in the last 24 hours, followed by a 1.53% drop in the market cap. Moreover, the Market Dominance of the token rests at 0.88%, while the Volume / Market Cap Ratio has a value of 0.04957.

The daily candle for Dogecoin opened at a price of $0.114 and reached a daily high of $0.1220. It is also important to note that the daily low for the token stands at a price of $0.1102 and also the price of 1 Dogecoin at the time of writing is $0.1140.

Dogecoin price analysis on the daily chart for March 14

Dogecoin price analysis on the daily chart for March 14 will consider 3 of the biggest indicators in the crypto space.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are quite close and chances are that bears will remain in control in the near future.

The RSI indicator displays a value of 36.65 as the gradient of the line is also negative which means that we will continue witnessing lower prices for Dogecoin.

The price action is situated in the lower end of the Bollinger Bands and chances of a bearish break out are very high. If DOGE loses $0.10 as support, we might see DOGE lose its position in the top 15.

Conclusion

The Dogecoin price analysis for March 14 confirms that there are increased chances of DOGE losing $0.10 as support and indicators point out that the downtrend continues.