Why Is Dogecoin Going Down, and Will It Go Up Again in 2021?


Currently, Dogecoin’s charts look bearish. It has fallen below its short-term 10-, 20-, and 30-day SMAs (simple moving averages), as well as its long-term 50-, 100-, and 200-day SMAs.

The meme crypto’s MACD (moving average convergence divergence) also suggests “sell,” and its 14-day RSI (relative strength index) is currently neutral at 35.4, but is nearing 30, which would suggest it’s oversold. If Dogecoin falls further, $0.1971 could be a support zone—and if it falls below that, it could test the lows it saw in Jul. 2021.



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