Price Analysis

Bulls May Return to Dogecoin; Price Experiences Upsurge

Dogecoin (DOGE) price is experiencing heavy movement in the price. The same is due to the volatility in the market. The currency is seen hovering around $0.0023 from the beginning of the month. There are strong indications of an upsurge in the coin. The last few days have spotted marginal improvement in the market cap. There is a strong hint that the upsurge might extend in the market, and Dogecoin could trace an unexpected high in the near future. Also, it seems, the Intraday trading might give the anticipated result.

Dogecoin Price Analysis:

As per the 3-month chart, the price is reflecting an overall loss, but in recent days, there is also a moderate recovery spotted. August started with an upsurge in the price. The opening price of $0.0028 went up to $0.0032 by 15.20%. Dogecoin couldn’t stay at $0.0032 for much longer and fell down to $0.0024 by 24.61%. Later, the recovery took place, and the price went up to $0.0029 by 13.85%. The last few days of the month experienced a loss of 17.74% which took it to $0.0024. In the September month, there was again an uptrend in the opening days and fall in the later. The price moved from $0.0024 to $0.0026 and then slipped to $0.0023.

Dogecoin Price
Dogecoin Chart By TradingView

There was a recovery spotted when the same that took Dogecoin to $0.0028 by 23.92%. Dogecoin was soon brought down to $0.0019 by 32.83%. From September 23, 2019, there was recovery spotted. The currency closed at $0.0024. The ongoing month is experiencing fluctuation in price. The current price of Dogecoin is at $0.002336 at 08:32 UTC. The coin is likely to breach the resistance level at $0.002389. However, if the fluctuation again creates a pressure, then Dogecoin would be supported at $0.002296.

RI: $0.002389, R2: $0.002432, and R3: $0.002482

S1: $0.002296, S2: $0.002246, and S3: $0.002203

The currency is recommended for long term traders. The same would help them gain the maximum return.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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