Dogecoin retaining $0.06: What can investors expect?
Dogecoin price analysis for July 3, 2022, comes on a bearish note for the biggest meme coin in the crypto market after the meme coin dropped more than 2% in the last 24 hours. Furthermore, we can also see that the meme coin is retaining the $0.06 price region and investors can expect DOGE to retain in the short term. However, if this region will hold above this region in the long term, we can’t surely say so. As noted in our DOGE price analysis for July 2, 2022, the meme coin has been holding its 10th position in the crypto market and it seems that the chances of higher prices are bleak.
The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 30.20% in the last 24 hours, followed by a 1.94% drop in the market cap. Moreover, the Market Dominance of the coin dropped to 1.01%, while the Volume / Market Cap Ratio has a value of 0.03287.
The daily candle for Dogecoin opened at a price of $0.06667 and reached a daily high of $0.06732. Furthermore, the daily low for the coin stands at a price of $0.06502, and the price of 1 DOGE at the time of writing is $0.06559.
Dogecoin price analysis on the daily chart for July 3
Dogecoin price analysis on the daily chart for July 3, 2022, will consider the data presented by 3 major indicators on the daily chart below.
Source: TradingView
The RSI indicator reads a value below 46 which means that the Dogecoin bulls are still giving sellers a fight for their money.
The MACD indicator shows that the MACD line is coming very close to the signal line as the bullish intensity of the histogram is decreasing.
The price action for Dogecoin is retesting the middle of the Bollinger Bands as investors can expect lower prices.
Conclusion
Dogecoin price analysis for July 3, 2022, ends on a bearish note for the meme coin with considerable chances of retaining $0.06.
