Dogecoin Adds Additional 2% Amid Volatile Market Conditions

Dogecoin adds an additional 2 percent on its value amid the volatile market conditions and the price went through multiple price swings over the past week. At the time of writing, there is a moderate momentum for Dogecoin while it did face rejection above $0.00185 which indicates that the coin could register a downtrend move in the upcoming hours as we are reading further in the dogecoin news.

On March 11, DOGE opened at $0.0022 which is why this is the main level that is watched out for in the current Dogecoin price prediction. However, the Dogecoin news update afterward showed that the price of the altcoin fell to $0.0014 shortly after that and now we can see how it managed to retrace to $0.0018.

If we continue looking at the price momentum of DOGE/USD over the past week, the currency was traded at $0.001709 on March 21 and over the next day, there was a dramatic price escalation of 8.52% that added another $0.0001 in the value, pushing the price to $0.001855. After that, there was a price correction that took the value to $0.001674 by March 23 which was the lowest point for DOGE in the past seven days. However, the coin started trading upwards shortly after.  The DOGE price escalated by 17% from the weekly lowest price and reached $0.001964 at the high point of the week.

Dogecoin started trading with the downside momentum and in the next three days the price lost about 12.38% value and got confined to the $0.001720 but in the same timeframe, DOGE managed to hold the price level above $0.00118 mark. The DOGE price rejected above the $0.00185 and corrected down to the $0.00174 while the currency lacks support still from its daily SMA lines. The RSI stands at 41.57 points and will likely fall more.

However, from there we saw a massive surge and this coin started trading upwards. On March 24, we saw how the DOGE price escalated by more than 17% from its weekly low, touching $0.001964 which is when the bulls started preparing for a move to $0.002. Dogecoin added a lot of gains but did not manage to touch this point, beginning to trade with a downside momentum afterward.