Dogecoin Reacts to the Market Recovery; Crossed $0.0018 Mark
- DOGE/USD has been up by 10.56% over the last 24 hours, and it may soon reach the next resistance point at $0.001975
- This upside movement may continue for some more days
The currency seems to have managed to get the best out of the last week’s bullish market condition. Over the last 7 days, it has marked mixed signals with some positive signs. On March 20, Dogecoin price touched $0.0019, and then it started downward correction, but after two days, again, it started recovery and but couldn’t manage to trade above $0.00185. However, from yesterday, Dogecoin reflected strong upward momentum and recover by 10.56%, and the value has reached $0.001852. As per the current momentum, this upside run may stay here for some more days.
Dogecoin Price Analysis
Yesterday, Dogecoin price was trading at $0.001675 in the initial hour, and over the next 13 hours, the currency picked up the pace and added a 14.53% hike and touched $0.001918. It was followed by a 9.56% downside correction that cost the coin $0.00018 and pulled the DOGE price down to $0.001736 by 15:52 UTC. However, towards the end of the day, Dogecoin started the upside movement again. Between 15:52 & 00:26 UTC, the coin marked 11.45% hike and reached a high of $0.001936.
At the time of writing this analysis, Dogecoin trades moderately upside having the support of 20-day MA. However, as per the current momentum, it may continue to trade upwards and test its 50-day MA at $0.001865. The RSI has now improved and touched 50.57 points.