Dogecoin price is currently trading just above $0.0019 and holds bearish influence. The coin has been under huge pressure since yesterday. The currency began at $0.0020 yesterday, and today it might violate its next support at $0.00189. The regressive movement seems to strengthen in the upcoming hours.
The moving averages of 20 days & 50 days are forming bearish crossover, and the same is also pointing towards a regressive day ahead.
Dogecoin on Recovery Attempts
Yesterday, Dogecoin started dealing at $0.00206 and then, it hovered at the same level till 09:00 UTC. Later, the price plunged to $0.00194 by 6.43% fall over the next 3 hours. However, the price recovered, and in the next 3 hours, the coin touched $0.00205 again. The closing hours of the day carried pullback pressure, and thus at 20:00 UTC, DOGE/USD breached its crucial support at $0.00189. However, from this low, the currency marked slight improvement and closed the day above $0.0019. The day-long movement in the coin brought 7.45% regression.
Today, Dogecoin started the day on a positive note at $0.00192, but then, it remained sluggish. The same was followed by pullback pressure that took the Dogecoin price to $0.00191. The MACD indicator reflects bearish signal. And as per the doge forecast, it might correct downwards, but if the currency reflects recovery, it may test the next resistance around $0.0020 mark.
