Dogecoin is seen trading upwards. The upside movement in the coin seems to stay longer this time. The month began with heavy volatility. The fluctuation has affected a lot of coins distinctively.
Dogecoin is known for following Bitcoin in the market. However, the current scenario is telling a different story. Dogecoin is booking profits and is expected to keep it similar for some time.
Dogecoin Price Analysis:
Last month, Dogecoin started at $0.002406. The price moved up from $0.002406 to $0.002706 by 12.49%. The uptrend couldn’t stay in the coin, and the price fell to $0.0023 with a regression of 13.61%. DOGE price jumped to $0.002863 by 22.38% immediately after the fall. There was another major fall that took the Dogecoin price down to $0.001921 by 32.97%.
The last few days experienced a recovery. The price reached $0.002406 and closed the month. The ongoing month began with a slight upsurge. Dogecoin moved from $0.002406 to $0.002555 by 6.19%. Later, the price fell to $0.002156 by 15.62%. Lately, there was an escalation observed that brought the price to $0.002676 by 24.11%.
The MACD line crossed the red one in the upward direction. The same indicates a rise in the forthcoming time. The traders can expect an upsurge in Dogecoin’s price in the coming time.
Dogecoin is moving towards the immediate resistance level. We are anticipating that it would breach the next resistance level too. Here is the list of calculated resistance and support levels.
|Resistance Level||Price||Support Level||Price|
The future of the DOGE is expected to prosperous. The traders can dig-in with a prospect of profit. We would recommend the traders to opt for long-term investment. The specified period would give a maximum result.
Dogecoin (DOGE) Trades in the Midrange with a Slight Bullish Crossover
- Dogecoin currently trades at $0.00258, with a slight bullish crossover
- Within the past 1 month, DOGE has traded in the price range of $0.00230–$0.00310
Dogecoin Price Analysis
Analyzing the 4-hourly movement of DOGE/USD on the exchange of Bittrex over the past 1 month, we see that the coin was trading at $0.00272 initially. With a snowball slide in the same trading week, Dogecoin price slid by over 15% to trade at $0.00230.
However, the green up trending candle formation immediately led the coin to trade at the highest price in the mentioned time frame at $0.00310. This was an exceptional 34.7% growth within just no time to temporarily mount.
The price trend was then followed by a downtrend, wherein the price of the coin slid to $0.0024 at the onset of November 2019. After having made a constant attempt to rise, DOGE price went as high as $0.00292. And, since then, it is on a continual downswing thereafter.
Dogecoin currently trades with solid selling pressure as it slid down rapidly from trading around $0.0029. Also, holds no support from either the short-term or long-term moving averages.
The MACD of Dogecoin is below zero but holds a slight bullish crossover as the price trend holds the green candle formation.
Dogecoin (DOGE) Maintains Stability Above its Recent Low-swing
- Dogecoin has traded above its price plunge near $0.0025
- The coin has escalated by more than 7%
- DOGE price has corrected down from its high price point of $0.0027
Over a day, Dogecoin has faced a considerable price drop, followed by a recovery. Currently, the coin is trading within the price range of $0.0026 and $0.0027. Meanwhile, Bitcoin has dropped to $8476.01, breaching support near $8500. Dogecoin has continued its falling trend for a whole week except for the recent rebound.
DOGE opened at $0.00259 yesterday, after which it took a surge to $0.00269. Later, the coin corrected down to $0.00257 before it started oscillating between $0.0026 and $0.0025. At 14:30 UTC, Dogecoin heavily dropped to $0.00252, with a decline of 5.91%. After remaining in the bearish zone for a few hours, the coin took a rebound and went above $0.0027, with an increase of 7.78%. Since then, the coin has kept the stable momentum intact. At present, the coin is trading at $0.00262 at 05:24:25 UTC.
DOGE/USD Price Chart
SMA lines are giving a bit negative out-look as the short term SMA line is below the long term SMA line. The MACD line has just moved above the signal line, noting a positive price move. Meanwhile, RSI is near 44, indicating the stable phase. Dogecoin may face resistance at $0.00263, $0.00262 and $0.00263 and support levels at $0.00263, $0.00262 and $0.00263.
Dogecoin (DOGE) Records 5.79% Fall Due to Market Pressure
Dogecoin is battling from the heavy market pressure from a long time. Despite the current downward movement in the DOGE, the traders are quite hopeful for a better future. The current market condition is quite disappointing as the price has fallen to $0.0025 mark.
Dogecoin Price Prediction
Yesterday, Dogecoin started dealing at $0.00272273. The price felt a pullback since the opening hours and hence dropped to $0.00256543 by 5.7%. In the later hours, the currency improved and took the Dogecoin price to $0.00268945 by 4.53%. The coin kept moving around the same level for the rest of the day. DOGE closed the day at $0.00267. The intraday movement brought 1.76% loss. Today, Dogecoin opened at $0.002677. The price shifted to $0.002553 within the first few hours. The regression marked in the coin was 4.55%.
Dogecoin is currently dealing at $0.002565. As per the calculated resistance and support levels, the coin has breached the immediate support and the next support level and is presently trading below the major support level. Hence, there is not much hope of improvement for the intraday traders.
|Resistance Level||Price||Support Level||Price|
Dogecoin holds a high potential for improvement in the future. We are also quite positive about that. We would recommend the traders to dig-in for a long-term period. There is speculation that the short-term investment would not bring the desired result to the traders.