DOGE Price Analysis: What’s Next for DOGE Amid Market Uncertainty? Revolut Adds Dogecoin to Crypto Offering

• Dogecoin succumbed to the selling pressure, trading to lows of $0.295
• At the time of writing, DOGE was trading at $0.3336, down 6.94% in the last 24 hours and 3.33% weekly
• Dogecoin becomes the 30th crypto to be made available on Revolut’s platform

The cryptocurrency market is shedding value as Bitcoin and Altcoins remain in red during Tuesday trading. Dogecoin succumbed to the selling pressure, trading to lows of $0.295 before slightly rebounding. At the time of writing, DOGE was trading at $0.3336, down 6.94% in the last 24 hours and 3.33% weekly. Ranking 6th largest, Dogecoin market capitalization sits at $42.79 billion and $4.46 billion in traded volume over 24 hours. Dogecoin becomes the 30th crypto to be made available on Revolut’s platform. The U.K.-based digital banking service decided to add Dogecoin (DOGE) to its crypto offering in response to widespread demand from its users. The inclusion of Dogecoin to Revolut’s crypto offering remains a bullish one as increasing demand may lead up to a positive boost for Dogecoin’s price.

Key Levels
Resistance levels: $0.4500, $0.4000, $0.3500
Support Levels: $0.2955, $0.2500, $.1950

DOGE/USD Daily Chart: Ranging

DOGE/USD Daily Chart

Dogecoin is consolidating above fresh intraday lows of $0.295, posted after a price drop on Tuesday. Fresh bears (from today’s selloff) are taking a breather, as investors buy a part of the drawdown. Dogecoin however remains inside a large price range, following last week’s false breakout under the $0.46 level. The short-term technical structure suggests that of possible consolidation as RSI remains slightly below the 50 neutral marks.

DOGE could climb higher if it breaks the MA 50 barrier at $0.395. Beyond here, another successful break above the $0.463 barrier could set the pace for a larger increase towards the $0.60 level and May’s all-time highs of $0.76. If not, there is a risk of a fresh decline towards the $0.279 support. The next major support is near the $0.24 level, below which the DOGE/USD pair could test $0.19 and the $0.13 support levels.

DOGE/USD 4-Hour Chart: Ranging

DOGE/USD 4-Hour Chart

DOGE found footing at the $0.295 level during Tuesday’s price drop while returning to trade below the MA 50 ($0.368). This follows after a downside break of the foundation of a trading range that commenced at the start of June. DOGE price had entered a range shortly after reaching all-time highs of $0.76 on May 8. Should buyers’ foothold be adequate, initial resistance may originate from the MA 50 at $0.368 and the $0.396 (previous support-now-resistance).

Moving higher, if the MA 200 at $0.418 fails to halt the climb, DOGE could be challenged by the barrier of the $0.592 level ahead of the all-time highs at $0.76. On the downside, immediate support may occur at the $0.28 level ahead of the $0.24 support. If selling interest persists, the DOGE/USD pair could rest at the May 19 trough of $0.21. Overall, DOGE/USD is likely to rise further if it breaks above its moving averages.

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