Dogecoin News

Dogecoin price analysis: DOGE/USD is bullish for the next 24 hours

TL;DR Breakdown

  • DOGE/USD is bullish on the daily Dogecoin price analysis.
  • DOGE/USD pair is trading within an extremely tight daily range.
  • We anticipate DOGE/USD to continue to surge in the coming 24 hours.

Today, Dogecoin‘s price is trading in a very narrow range between 0.21 and 0.22 on the daily dogecoin price analysis chart. The market has not picked up momentum to move higher or lower, hence the stagnation. Yesterday’s highlighted contracting triangle pattern has been breached by sellers today, but only briefly before the price returned back inside the triangle. If you plan to buy DGE/USD, keep an eye on the 4-hour chart because that would be your best entry point.

The 50-day moving average breached the 100-day moving average, revealing a strong bullish signal. The Moving Average indicators tested at $0.22 as a minor resistance before retreating to their former position.

Cryptocurrency heat map. Source: Coin360

The broader cryptocurrency market has observed a bullish sentiment over the last 24-hours, as most major cryptocurrencies record a positive change over the period. The most popular digital asset, Bitcoin, is presently priced at $43.K. It aims to rebound back above the 50K mark. Ether is trading with a few dollars above $3.0K with a 4 percent increase. The bulls are eyeing ETH’s target of $3.5K as their next stop. Buyers intend to bring BNB back to its previous value before the current price dip. Binance coin is currently trading at $378. The meme coin is also trading in a promising trend recording a slight price surge.

DOGE/USD 4-hour chart: DOGE to continue consolidating?

On the hourly chart, we may see a rejection at $0.2430, suggesting that the consolidation phase will continue later in the day.

DOGE/USD 4-hour chart. Source: TradingView

The price of Dogecoin has been following an extremely volatile path since its inception. In August, after establishing a new swing high at $0.35, the price of Dogecoin collapsed by more than 90%. DOGE/USD subsequently fell by two sequences to reach a low of $0.265 in December 2017 before making up some

In the fourth week of September, DOGE/USD began an upward trend to a higher high and eventually established a somewhat higher high beyond the previous resistance at $0.30. Bulls, on the other hand, grew weary near $0.31, where the meme coin’s price has fallen dramatically ever since.

Dogecoin Price Analysis: Conclusion

As anticipated, today’s Dogecoin price prediction is that the bulls will be exhausted and DOGE/USD will trade bearishly. As a result, we anticipate DOGE/USD to continue to fall in the coming 24 hours.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

This post was last modified on September 23, 2021 7:23 am

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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