Dogecoin Faces Temperate Devaluation Which May Lead Towards a Bear Rally

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Since the entire market is suffering from the recent pullback and volatility, the same has been the case with Dogecoin too. However, the recovery is expected to be high based on the past movement in Dogecoin.

Dogecoin Chart By TradingView

As per the statistics from the past 5 days, DOGE was initially trading at $0.002578 as on September 15, 2019, at 15:45 UTC. The value then dropped by 9.45% on September 17, 2019 at 09:20 UTC when the trading value changed to $0.002334. The highest touchpoint of the said time frame was realized when the value escalated by 22.39% on September 18, 2019 at 21:25 UTC, trading at $0.002855.

Yesterday, the price of Dogecoin dropped to $0.002529, from the latter price mark by 11.44% at 03:10 UTC. However, the current value is a result of 7.73% escalation.

DOGE has recently seen a downfall in the trend, confusing the investors to take an ideal trade decision. The value as of now seems to be bending towards the moderate bearish zone but, is expected to have a positive direction soon.

DOGE Price Chart

Based on the current movement and volatility, the short-term prognosis very much relies on the resistance and support level around the current trading price.

DOGE Price Chart

However, if we look at the coin’s year-to-date performance, the value seems to be dropping back below the baseline. Irrespective of Dogecoin being inclined towards the bearish zone, it is an evergreen investment option amongst all the altcoins of the market.

To conclude, it might be a little challenging for investors to take the ideal trade decision. The ease the same, the calculated resistance and support levels are as follows:

Resistance Level:

R1: $0.002766, R2: $0.002822, R3: $0.002911

Support Levels:

S1: $0.002621, S2: $0.002532, S3: $0.002476

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Cryptocurrency Dogecoin (DOGE) Price Analysis Price Prediction

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