Dogecoin Price Turns Bearish in the Medium-term, Will Dogecoin Hit $1?

For investors and enthusiasts alike, getting a stablecoin that can yield reasonable value for your investment could be a difficult endeavor. Issues like high volatility and other factors can also affect this decision. The best you can do is follow the weekly data of these coins to discover the most profitable one based on mathematical analysis. There are several of such altcoins that can offer users value for their investment. One of them and the one in focus today is Dogecoin. Will Dogecoin ever go up? Will Dogecoin hit $1?

Having defended allegations of operating a centralized model Dogecoin has come out top as one of the best performing tokens for the year. The growth rate of the digital asset can easily be tagged as phenomenal having started the year on a poor note. Let’s see how the price of Dogecoin has performed since May 30 to the opening of trade today.

Dogecoin Price Prediction 2019: The Price of Dogecoin is Bearish in Medium-term Outlook – will Dogecoin Ever Go Up?

On May 30, the price of Dogecoin started in a bullish region. The DOGE market also saw a sideways trend. Both EMAs have been trending horizontally for the past two weeks. Since May 16, the price of Dogecoin has been trading between $0.0028 and $0.0032.

On May 30 the bulls took the price of Dogecoin to $0.0036 but faced resistance. There was a downward correction which took the price of Dogecoin into range bound regions $0.0028 and $0.0032. Via the downside, if the bearish position continues, the price of Dogecoin will fall and reach $0.0028. On the other hand, should the bearish trend finish, the price of Dogecoin might sustain its range bound movement for a few days. The MACD and signal patterns are above the zero pattern indicating a buy sign.

Dogecoin Price Prediction 2019: The Price of Dogecoin is Ranging in the Short-term Outlook – Will Dogecoin hit $1?

Via the 1-hour chart of the DOGE/USD pai, the price of Dogecoin was trading sideways. Since May 26, the 12 and 26-day EMA are moving horizontally. The price of Dogecoin had been in a tight range between $0.0030 and $0.0032.

As of the late hours of May 30, Dogecoin’s bullish gains began to erase as the bears took over. This pushed the price of Dogecoin to a bearish trend. The crypto’s price has now entered the range bound zone for the short-term outlook. Meanwhile, the price Dogecoin is below the EMAs indicating that price will likely fall. However, it will only occur if the parameters stay in play.

Dogecoin Price Prediction 2019: Comparing the Price of Dogecoin Since the Year Began – Will Dogecoin Ever Go Up?

The price of Dogecoin began the year poorly. The coin at the beginning of this year started losing in value. It got to its lowest point on February 6 when it traded at $0.00183247 before it started rising to its current position. The price of Dogecoin may be one of the most consistent tokens in terms of sustain bullish pressure. The April market boom that was initiated by BTC, has been referred to as the biggest contributor to the growth of Dogecoin’s price in the last growth. It should be recalled that in the last 5 days to May 30, smartereum reported that the price of Dogecoin gained 79.25%.

How Much is Dogecoin Today? – Will Dogecoin Hit $1

Dogecoin is the only coin in the green in the top thirty according to Coinmarketcap. The coin has seen a 3.72% growth in the last 24 hours. It is valued at $0.003365 at press time. Can Dogecoin maintain this momentum? Will Dogecoin ever go up? The coin looks promising with a bright future ahead. Follow daily market analysis to decide if it is a viable investment.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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