- Dogecoin has tested support levels below the 38.20% fib level today after it maintained its uptrend for a whole yesterday
The currency was well above $0.0022 around a month ago, is now struggling to stay above its crucial support levels these days, and this says a lot about the current bearish attitude of the market. The coin is in a hassle to climb above $0.0018.
- Dogecoin saw rejection at $0.0019; downward correction took the value below $0.0018 for once
The coin went as high as $0.0019 yesterday before closing, although, over the last couple of hours, it corrected down to $0.0017. Notably, the coin is well above the opening price of yesterday, i.e., 0.00170. After this correction, the coin has traded above $0.00188 for a few times.
- Yesterday’s price surge was of more than 13%; the Dogecoin price coincides with the 200-day EMA line
Yesterday morning’s price actions were bearish for the currency as it dipped even below $0.00169. As it found a support level there to start a rebound, it started a meek uptrend and then accelerated it. Thus, the 13.49% price escalation took place amid an extremely volatile market.
At this moment, DOGE/USD is trading around its moving averages. The coin has just climbed a little above the 200-day EMA line. Meanwhile, the moving averages have just formed a bullish crossover. Notably, RSI and MACD are holding an extremely bearish approach. Due to bearishness, the coin might record slight correction up to its previous support of $0.001787 in the upcoming hours as per our DOGE price forecast.