Dogecoin price targets next support at $0.215

Dogecoin price prediction summary

• Dogecoin price prediction is bearish today.
• DOGE/USD continued to retrace overnight.
• Next support at $0.215.

The Dogecoin price dropped below the $0.23 support after a breakout failure this morning, according to Dogecoin price analysis. As a result, we anticipate that the DOGE/USD pair will continue to fall and come close to the $0.215 support later today.

Over the previous 24 hours, the cryptocurrency market was dominated by bullish momentum. Bitcoin was one of the best performers, increasing by 3.75 percent, while Ethereum shot up by 2.75 percent. The other top altcoins also rose modestly, with a 4-6% gain in value.

Dogecoin price prediction in the last 24 hours: Dogecoin breaks below $0.23 support

Over the course of the last 24 hours, DOGE/USD fluctuated between $0.2226 and $0.2384, showing little volatility throughout that time period. Trading activity amounted to $1.54 billion, which was 8.14% less than yesterday. The market capitalization has shrunk by 5.21%, leaving it in 10th place overall.

DOGE/USD 4-hour chart: DOGE to target $0.215 next?

On the 4-hour DOGE price analysis chart, we can see that bearish momentum is continuing to push the Dogecoin price lower, most likely setting up a break of the $0.215 support in the near future.

DOGE/USD 4-hour chart. Source: TradingView

The price of Dogecoin has reversed in the last week. Following a strong start to October, during which DOGE/USD rose from $0.195 to $0.27, there was a reversal.

After reaching a high of around $0.25 on the 6th of October, the price continued to depreciate over the next few days. On Sunday, after numerous attempts at $0.25 as resistance over the previous days, DOGE began declining.

On November 24, Dogecoin was trading at a price of $0.23 after rising by more than 5 percent in the previous two months. The $0.23 mark provided some support at first. However, later that day, Dogecoin’s price dropped once more, causing a break below $0.23 support overnight.

Dogecoin Price Prediction: Conclusion 

The Dogecoin price is bearish today as the $0.23 support was broken overnight, causing more declines today. As a result, we anticipate DOGE/USD to continue downward and aim for the $0.215 support in the near future.