Dogecoin Price Hovers Near Key Moving Averages Amid Consolidation
Dogecoin (DOGE) price has been on the move after 40 days of consolidation, and it's now hovering near key moving averages. The cryptocurrency broke out from a narrow range between $0.068 and $0.073 in mid-August and surged by 30% in three days.
At press time, DOGE was trading at $0.08352 with an intraday loss of 2%. Its market capitalization was $31.018B and the 24-hour trading volume was $690.799M.
The price is currently trading between the 200-days and 100-days EMA on a daily timeframe, and if it slips below $0.08255, sellers might dominate and drop to the immediate support level of $0.08000.
Conversely, if Dogecoin price rises and surpasses the 200-days EMA followed by a close above the previous Daily swing high, then it could trigger further buying pressure.