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Price Analysis

Dogecoin Continues to Struggle; Trading Price Hits the Bottom With a 2% Fall

  • Dogecoin loses almost 2% to reach 0.0021 USD overnight
  • The fall may be temporary, and resistance expected to be around 0.0023 USD

Dogecoin has lost almost 2% over the last 24 hours and the current value has now reached 0.00218 USD. From the starting of the day, Dogecoin showed grim movements and from 15:37 UTC, it started rising. The price movements were in the range of 0.00224 USD to 0.00206 USD.

Dogecoin Price Analysis:

A downtrend can be seen on the initial hours of Dogecoin until 15:00 UTC and the first swing happened between 00:06 UTC and 15:37 UTC. This swing cost 0.0001 USD and placed the value at 0.00206 USD, the lowest of the day. It was followed by a hike of 8.78% and it added 0.00018 USD, which scaled the value to 0.00224 USD. The third variation happened over the next 3 hours and 25 minutes; it placed DOGE at 0.002141 USD. It was followed by an increment of 5.86% and this increment helped the coin to scale the value to 0.00268 USD, the highest for the day. From 23:03 UTC, it started weakening and after a cut of 7.73%, the value went as low as 0.00209 USD.

Dogecoin Price
Dogecoin Chart By TradingView

Dogecoin’s current price is above its 20 days and 50 days average; it hints that the current downtrend may be temporary. The medium-term is likely to be bullish and it may find the next resistance at 0.0023 USD.

Resistance and Support Levels:

R1- $0.00231, R2- $0.002399, R3- $0.002462

S1- $0.00216, S2- $0.002097, S3- $0.002009

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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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