Dogelon Mars Trades Lower; ELON May Hit Support of $0.0000006

The price of Dogelon Mars is dropping from $0.0000019 and has reached its support zone. The coin has been registering a lower low pattern and is trading below the downtrend line from the last month. On March 02, the ELON price hit the downtrend line but couldn’t trade beyond it and faced rejection further.

On the above ELON price chart, the MACD line and the signal line intersect each other; thus, no clear indication about the price movement can be indicated. The RSI is 39 is currently neutral but may head towards the oversold zone. The coin may correct further towards $0.0000006 after that; a turnaround can be expected. If the coin hits the trend line, it will trade above $0.0000009. Over the last few days, the ELON token has been moving sideways, thus creating indecision about the upcoming price momentum.

On the longer time-frame chart, there has been a constant correction in the Dogelon Mars price from the last four weeks. The candles are moving at the edges of the trendline and have failed to close above it. The volume bar shows supportive bearish momentum of the coin, and the technical parameters are already in the sell zone. According to Dogelon Mars price prediction, the token might continue to trade at the lower levels till any sharp movement is registered. 

The coin is leading towards its lows; however, if the bulls push the price up from its support zone, an up-trending market can be expected. If the coin closes below the support line and swings low of $0.0000005, a robust downtrend market can be expected.