Dogecoin price analysis 21 May 2019; fluctuation mayhem

Dogecoin price analysis 21 May 2019; fluctuation mayhem

Simply looking at the DOGE chart can tell what the coin has been going through. The charts themselves have been bolded due to the amount of fluctuation and volatility. Although last week was relatively stable in the beginning, once the Bitcoin price started falling, DOGE followed suit like many other coins.

However, that fall was the only consistent price change throughout the last 5 days. Over the course of Monday and today, the coin has been changing the price without stop. Even more, it can’t seem to find the perfect zone to simply stay put.

DOGE price 21 May

DOGE chart by TradingView

Due to so much fluctuation, the price we managed to catch was $0.0030, but it is bound to change within seconds of completing the article. However, some resistance and support levels can still be formed.

Judging by the fact that the coin fell from grace, from around $0.0036, it is considered as the most realistic resistance level. However, it’s the simplest to reach. The real struggle will start once DOGE starts fighting for an industry-new $0.004, or even $0.005 price points.

However, in order to reach the first resistance level, it needs to have some stability with the support prices at, $0.0028 and $0.0024.

If those support levels are avoided, then the price is likely to remain on an upwards trajectory, once Bitcoin bounces back.

Different from other coins in the market, mainly the Top 5 ones, DOGE is mostly a short-term investment for most crypto enthusiasts.

Trading a large coin like LTC, BTC or ETH at this point is irrelevant due to a passive market. However, the fluctuation seen in the chart above is nothing but a heap of opportunity for scalpers and day traders.

Dogecoin price analysis 21 May 2019; fluctuation mayhem
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