DOGE Starts This Week On A Bearish Note, Trading Around $0.002

The price of DOGE starts this week on a bearish note, dropping more today after losing 4.56% over the last 24 hours. Currently, the price of Dogecoin is being traded at $0.002005 and investors may witness huge volatility in the upcoming days.

If we see the price movement of DOGE/USD over the past few weeks, we can notice that the currency was trading with upside momentum. Along with that, we can notice that DOGE is facing heavy price fluctuations. The crypto news today show that over the past week, Dogecoin was struggling but still kept the $0.0020 threshold. In the next few days, it may cross $0.0021 despite the volatility around it.

The DOGE/USD price chart indicates that last week, the coin has been on a moderate rising path. It started the week at $0.0019 and by April 16, the price of DOGE has been pulled down to $0.0018. However, from this point, DOGE has been on a recovery spree and trending above $0.0020 since April 18.

The price of Dogecoin was at $0.002101 at the starting of the day. DOGE starts the day badly and in the next 6 hours, it is expected to go down more. It touched $0.001992 and recovered by 4.65% which pushed it to $0.002085 by 10:05 UTC. However, the coin could not remain at these levels for that long and fell by around 5% and reached the lowest point of the day, visiting $0.001980 by 14:05 UTC.

From a low like this, Dogecoin starts trading upwards and now we can see that the price is higher – but still lower from the $0.002084 which it reached before. At the time of writing this, DOGE is spotted at $0.002005 without any support from the short-term moving averages.

DOGE/USD has a RSI below 40 points, indicating that it is tilted towards the oversold region. Dogecoin may not see any quick recovery of this situation anytime soon. However, analysts at Trade99 think that the coin may reflect a strong recovery in the upcoming days as per the overall trend that is noticed.

Today’s price of DOGE starts the day with minus. However, it is hard to see whether the losses will extend or we will see the Dogecoin news featuring new gains for the meme-inspired cryptocurrency.