The price of Dogecoin marked one of the highest losses as the recent market stability got weaker over the past 24 hours. DOGE has been down by 7.26% and the latest cryptocurrency news show that the value of this coin has fallen to $0.0019. The current price of DOGE remains at this level and we can see that Dogecoin traded stable overnight, minimizing its losses to only 2.53%.
When it comes to the price trend of DOGE/USD, we can see that this was a week full of price swings. For the initial few days of the week, we saw how Dogecoin traded stable and roamed around the $0.0019 mark, finally going above $0.0020 by April 16th. Still, this momentum did not sustain and the loss yesterday seems to be the highest over the night descent that Dogecoin made over the last few weeks.
Yesterday, we saw the Dogecoin price spotting $0.002066 in the first hour, and over the next 7 hours and 30 minutes, marking a marginal hike and reaching $0.002086. However, this followed a steep fall of 7.06% that pulled down the Dogecoin value to $0.001939.
At 15:12 UTC, the price of Dogecoin traded stable and escalated to $0.002055. Furthermore, the currency reflected downside movement and at 02:56 UTC managed to get slackened by 6.62%. The Dogecoin news then showed a quick recovery after the low at $0.001919.
Currently, we can see that DOGE lacks support from its daily SMA 50 & 20 levels as the current price of the coin is trending below both lines. Also, the RSI is below 40 points and is tilted towards the oversold region.
This is another reason why traders may witness a few unprecedented swings soon – and the support of $0.00189 seems imminent. However, if the price of Dogecoin reflects a recovery, it will definitely attract the bulls to step in and take action.
In a scenario like this, the $0.001997 will act as a low and a high of $0.0020 mark is imminent. After all, this is what DOGE has been aiming at for some time now. Considering all the losses on the market overnight, Dogecoin traded stable and established a solid ground to cover from now on.
Meanwhile, the total cryptocurrency market cap is still below $200 billion as coins are struggling to get on a higher ground.
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