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<ul class="news-points"> 
 <li>The CMF drop to -0.11 suggests that DOGE had lost the strength behind its uptrend.</li> 
 <li>The RSI indicated that there was low demand but enough to keep the price above water.</li> 
 <li>DOGE could end up consolidating in the short term and Open Interest shrunk.</li> 
</ul> 
<a href="https://coinedition.com/dogecoin-doge-price-prediction/">Dogecoin’s (DOGE)</a> recovery over the last week has hit a stumbling block as the 24-hour price decreased by 2.62%. Between June 20 and 23, DOGE surged from $0.060 to $0.68. However, the decrease in price has forced the meme into narrow consolidation over the last few days. 
From the 4-hour chart, DOGE’s bullish thesis began intense formation at $0.0612. Like Bitcoin (BTC), DOGE alongside other cryptocurrencies enjoyed the hike due to an increase in <a href="https://coinedition.com/bitcoin-accumulation-race-heats-up-as-blackrock-leads-etf-filing/">institutional</a> interest. 
<h2 class="wp-block-heading" id="h-less-flow-reduced-strength">Less flow, reduced strength</h2> 
Despite the extended rally period, the uptrend experienced a crack due to heavy selling pressure at $0.0686. While the downtrend was thwarted by support created at $0.0600, oscillating buy and sell orders could not keep the DOGE upward momentum constant. 
Meanwhile, liquidity flow into DOGE has significantly dropped as indicated by the Chaikin Money Flow (CMF). 
The indicator drop to -0.11 signals a reduction in buying…
The post <a rel="nofollow" href="https://coinedition.com/why-dogecoin-may-hold-this-key-support-amid-bears-presence/">Why Dogecoin May Hold This Key Support Amid Bears Presence</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Why Dogecoin May Hold This Key Support Amid Bears Presence

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