It is not long ago when the market bears caused Bitcoin to witness a sharp pullback from $10,000 to $9500. This had generated bearish ripples around the market, affecting all the altcoins.
However, a few coins have shown their stable nature as they paused a strong price decline above their support levels. Dogecoin, being a part of the same league, maintained its price above $0.0024.
Over the last one week, the coin has traded above $0.0075 twice. Right now, the price of Dogecoin is pretty much below that level. However, if we look at how the coin has been performing over the last few months, it may impress us.
The one-day price chart of Dogecoin to USD depicts corrections (downwards) after an ample price rise. The price remained around $0.0025 in the initial hours of yesterday. It recorded an eye-catching surge in the middle of the day, and the price reached above $0.00270 with a hike of 9.79%.
Later, the bearish price pullback caused the Dogecoin to have a few wicks below the 78.60% fib level. Currently, the DOGE/USD is ranging between $0.0064 to $0.0054, sticking to the consolidating approach. The bears have washed out the coin’s 9.79% gains pretty quickly.
The technicals are in the bullish zone for now, surprisingly. The MACD indicator has just formed a bullish crossover while the 200-day EMA line has slipped below the coin. SMA lines, too, are in a positive area. If you are also willing to invest in cryptocurrency then visit thebitcoinerapro.com which can help you. It is a platform that focuses on making a huge profit from cryptocurrency investment or trading.