Dogecoin (DOGE) Fails to Maintain Stability; Drops by 22%

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  • Last one week has brought a lot of uncertainty in Dogecoin’s price trend amid extremely volatile crypto market
  • Over the last day, Dogecoin has dropped by more than 22%; price slipped below $0.00143
  • Technicals are giving negative signs while the coin has just formed a bullish candle

Dogecoin Price Analysis

Dogecoin has hit bottom at $0.00143 from its yesterday’s highest price mark of $0.00184. After yesterday’s pullback, the coin has extended its price decline to quite an extent holding a negative bias.

On March 11,  Dogecoin has opened at $0.0021 and from there, the coin has risen to $0.0022. Here, as it faced resistance, it started a gradual downward journey, and within two days, the coin bottomed to $0.0013. The rebound of the price could take it as high as the 50% Fib level.

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Dogecoin (DOGE) Price News
DOGE/USD Chart By TradingView

Till yesterday, Dogecoin was stably trading with an approach of consolidation. After it had a sudden spike at $0.00184, it pulled back and reached as low as $0.00143. The coin has just traced a bullish spike at $0.0015.

MACD is in the bearish zone, where the MACD line is set to move above the signal line. RSI of the coin is at 43 showing no extremities right now. Also, the short term SMA line is below the long term SMA line showing a negative momentum.

 

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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