Dogecoin price analysis for July 13, 2022, comes on a bearish note for the world’s biggest meme coin in the crypto space as the downtrend for the token continues. Furthermore, it is also clear that the meme coin has retained its 10th position in the market after a 0.84% price surge in the last 24 hours. It is also important to note that the token has dropped significantly in the last year despite Elon Musk supporting the meme coin on multiple platforms.
As noted in our DOGE price analysis for July 12, 2022, it is clear that the token continues to retest the $0.06 price region and has failed to break above the $0.07 on multiple occassions. Dogecoin needs to reclaim the $0.10 price level in order to confirm and uptrend and make higher highs.
The data from CoinMarketCap shows that the trading volume for Dogecoin has surged by 8.09% in the last 24 hours, followed by a 1.04% drop in the market cap. Moreover, the Market Dominance of the coin rests 0.92%, while the Volume / Market Cap Ratio has a value of 0.03677.
The daily candle for Dogecoin opened at a price of $0.05981 and reached a daily high of $0.06182. Furthermore, the daily low for the coin stands at a price of $0.05912, and the price of 1 DOGE at the time of writing is $0.06146.
Dogecoin price analysis on the daily chart for July 13
Dogecoin price analysis on the daily chart for July 13, 2022, will consider the data presented by 3 major indicators on the daily chart below.
The RSI indicator reads a value below 41 which confirms that the sellers are in charge of the Dogecoin price action.
The MACD line has broken below the signal line and a bearish divergence can be confirmed on the daily chart.
The price action for Dogecoin is retesting the lower end of the Bollinger Bands indicating that a bearish breakout might follow.
Dogecoin price analysis for July 13, 2022, ends on a bearish note for the meme coin with high chances of losing $0.06.
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