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Dogecoin price analysis: Bulls show immediate reaction as price heightens to $0.158 after a slight correction

Dogecoin price analysis Bulls show immediate reaction as price heightens to after a slight correction

TL;DR Breakdown

  • The Dogecoin price analysis is Bullish.
  • Price levels have recovered to $0.158.
  • Support is present at $0.154.

The latest Dogecoin price analysis shows a strong comeback from the bullish side, as the price suddenly zoomed past $0.153 resistance. The momentum seems strong as bulls are covering range upwards by elevating the price level in a steady manner. It is a great achievement for bulls as the trend was bearish for the past week, but now bulls are continuing the lead after the coin got support at $0.142 yesterday.

DOGE/USD 1-day price chart: cryptocurrency surpasses hurdles to reach $0.158

The 1-day price chart showing Dogecoin price analysis is going highly supportive for bulls. The bulls have regained momentum, and the bulls continue to fight for reestablishing their supremacy. The price levels have reached $0.158, which is appreciable progress as compared to the bearish trends that followed in the past week. The Moving Average (MA), i.e., $0.15, has been left behind if compared to the current price level.

Dogecoin price analysis: Bulls show immediate reaction as price heightens to $0.158 after a slight correction 1
DOGE/USD 1-day price chart. Source: TradingView

The Relative Strength Index (RSI) has been at a steep upwards curve since yesterday; the indicator is currently trading at index 43, indicating the buying activity in the market. Meanwhile, as the volatility continues to increase for the bulls, the upper Bollinger band has reached $0.195, whereas the lower band has reached $0.140 simultaneously.

Dogecoin price analysis: Recent developments and further technical indications

The 4-hour Dogecoin price analysis shows a good rise in price today. Despite the price levels breaking downwards, the bulls were able to overcome the bearish struggle and take the lead after a correction period that lasted for eight hours. The momentum has been overwhelming for the bears, and they have been unable to overpower the bulls. The price levels are way higher than the Moving Average value, which is $0.153 on the 4-hour chart. Moreover, the SMA 20 curve has crossed SMA 50 curve today, which is a highly bullish indication for the coin.

Dogecoin price analysis: Bulls show immediate reaction as price heightens to $0.158 after a slight correction 2
DOGE/USD 4-hours price chart. Source: TradingView

The RSI score is also going high and is right now at index 57 and continues upside at the time of writing, whereas the Bollinger bands average value is present at $0.150 in the 4-hours price chart. The volatility is increasing, and the upper Bollinger bands value has reached $0.160 representing resistance for DOGE/USD, and the lower band has reached $0.140 of level.

Dogecoin price analysis conclusion

From the above Dogecoin price analysis, it can be deduced that further improvement in DOGE/USD price can be predicted if the winning trend follows. The price levels are expected to recover further above the $0.158 level if the buyers’ support continues for the bulls. The next resistance present at $0.159 can be easily overcome in the coming 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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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