Dogecoin Trades Stably Above $0.0019 After 7.26% Fall Overnight

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Dogecoin has marked one of the highest losses as the market’s stability got thrown to the air over the last 24 hours. It has been down by 7.26%, and its value has fallen to $0.001916. However, at the time of writing this analysis, the currency marked moderate stable movement.

Dogecoin Price Analysis

The price trend of DOGE/USD over the last week has been full of price swings. For the initial few days of the week, it roamed around $0.0019 and finally went above $0.0020 by April 16. However, yesterday’s loss seems to be the highest over the night descent Dogecoin made over the last few weeks.

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DOGE/USD Chart By TradeingView

Yesterday, Dogecoin price spotted at $0.002066 in the first hour, and over the next 7 hours and 30 minutes, it marked a marginal hike and reached $0.002086. It was followed by a steep fall of 7.06% that pulled down the Dogecoin value to $0.001939. However, at 15:12 UTC, the coin price escalated to $0.002055. Further, the currency reflected downside movement, and at 02:56 UTC of today, Dogecoin’s price got slackened by 6.62% and reached a new low at $0.001919.

Currently, the coin lacks support from its daily SMA 50 & 20 as the current price is trending below both the lines. Also, its RSI is below 40 points, and it is tilted towards the oversold region. Hence, traders may witness a few unprecedented swings soon, and support of $0.00189 seems imminent. However, if the price of Dogecoin reflects recovery, it may test a $0.0020 mark.

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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