In the period from October to December 2017, the price of Dogecoin was trading near 20 satoshis. A rapid upward move ensued, and the DOGE price reached a high above 110 satoshis the next month. After a decrease, the price reached a similar level on September 2018.

Dogecoin Price: Trends and Highlights for July 3
- The DOGE price is trading above the main support area near 20 satoshis.
- There is bullish divergence developing in the RSI and the MACD.
- The price is struggling to break out above the moving averages.
DOGE Price in a Descending Channel
Since the beginning of May, the price of DOGE has been trading inside the descending channel outlined below.
Technical Indicators
The price of DOGE is analyzed alongside the RSI and the MACD in the first graph, and the 10- and 20-day moving averages (MA) and volume in the second.
On May 13, the price reached a low of 34 satoshis. On June 26, it reached a lower low of 24 satoshis.


Summary
The price of DOGE recently broke down below a significant support area. It is currently trading inside a descending wedge and has developed significant bullish divergence in the RSI and the MACD. The moving averages are leaning towards turning bullish, but have not yet done so. Do you think the Dogecoin price will break out from the wedge? Let us know in the comments below.Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. Images are courtesy of Shutterstock, TradingView.
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Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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