Dogecoin volume declines by nearly 50% as prices hold above $0.14

Dogecoin price analysis for April 14, 2022, comes on a bearish note for the meme coin despite a 0.46% rise in prices in the last 24 hours. Furthermore, the token remains in a downtrend in the long term, as well as the short term as the all-time of the token, was witnessed nearly a year ago in May 2021 above the $0.7 price level. The token has also been pushed out of the top 10 tokens in the crypto space by market cap and it is also important to note that as per our DOGE analysis for April 13, the token has found important support at the $0.14 price region. 

The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 41.89% in the last 24 hours, followed by a 0.20% surge in the market cap. Moreover, the Market Dominance of the token has dropped to 0.98%, while the Volume / Market Cap Ratio has a value of 0.04032.

The daily candle for Dogecoin opened at a price of $0.14 and reached a daily high of $0.1424. Furthermore, the daily low for the token stands at a price of $0.1396, and the price of 1 DOGE at the time of writing is $0.1412.

Dogecoin price analysis on the daily chart for April 14

Dogecoin price analysis on the daily chart for April 14 will consider the data gained from the indicators placed on the daily chart below.

Source: TradingView

The MACD indicator is bearish with the signal line dominating the MACD line and the MACD histogram is also bullish. 

The RSI indicator shows a value above 51 which means that the Dogecoin bulls are losing control of the price action.

The price action for DOGE has dropped to the lower end of the Bollinger Bands which means that $0.14 might not retain support. 

Conclusion

Dogecoin price analysis for April 14, 2022, ends on a bearish note for the meme coin with major support at $0.14.