Price Analysis

Dogecoin (DOGE) Exhibits Heavy Fluctuation in the Intraday Movement

  • Dogecoin (DOGE) price is marking heavy volatility in the price.
  • The day might end on a positive note.

Dogecoin is often seen moving on the footsteps of Bitcoin. In recent days, the currency is showing a distinctive move than Bitcoin. The same is quite impressive, but all is this happening amidst great fluctuation so, the same could get over with the volatility. In today’s price movement, the day started with profit numbers. Soon, the coin turned red and now it is green again.

Let’s have a look at the price chart.

Dogecoin Price Analysis:

Dogecoin Price
Dogecoin Chart By TradingView

Yesterday, the coin started trading at $0.00254. The price moved up to $0.00279 by 9.75%. The uptrend kept intact and took it to $0.00298 from $0.00263 by 13.51%. There was a slight fall that brought the coin back to $0.0028. The day closed at the same level as an intraday escalation of 11.48%. Today, the opening hours booked slight escalation. The price shifted from $0.0028 to $0.0029 by 12.68%. Later, the price dropped and touched $0.0025 by 11.50%. Recently, the price again touched $0.0027. This time the progression was of 7.83%.

Dogecoin price is moving haphazardly since the beginning of the day.  If we talk about yesterday, the price opened at $0.00254 and closed at $0.00284. There was a hefty recovery in the price. There were anticipations that the uptrend would continue for some time, but today, the movement has taken the traders by surprise.

Resistance Level Price Support Level Price
R1$0.002928S1$0.002586
R2$0.003101S2$0.002417
R3$0.00327S3$0.002244

As per the graph, the coin has already violated the immediate support level. Somehow, DOGE is now moving towards the immediate resistance level at $0.0029. Amid the heavy fluctuation, it becomes difficult to predict the future. Thus, we would recommend that the traders should hold on to their investment for some time.

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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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