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DOGE Faces Minor Pullback After Brief Rally Towards $0.80

Published 12/27/2022, 06:30 PM
Updated 12/27/2022, 06:45 PM
© Reuters DOGE Faces Minor Pullback After Brief Rally Towards $0.80
DOGE/USD
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  • Dogecoin price has made higher highs and higher lows over the past 24 hours.

  • The digital asset had been trading in a range between $0.07477 and $0.07602

  • DOGE is currently testing the lower end of this range at $0.07522

Dogecoin’s (DOGE) price action over the last 24 hours shows that the coin has been making lower lows at each peak. This could be seen as a symmetrical triangle pattern, which is typically a sign of consolidation before the price either breaks above or below the range.

At press time, DOGE price has dropped slightly to around $0.07524, down 0.83% in the last 24 hours. The near-term technical indicators suggest a possible pullback in the upcoming hours.

The relative strength index (RSI) is currently at 38.16, which indicates that DOGE is on the brink of forming a bearish divergence. The MACD has also started to move lower after reaching above zero.

The post DOGE Faces Minor Pullback After Brief Rally Towards $0.80 appeared first on Coin Edition.

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