Dogecoin price analysis: DOGE price rises to $0.190 as bullish momentum accelerates

Dogecoin price analysis DOGE price rises to as bullish momentum accelerates

TL;DR Breakdown

  • The Dogecoin price analysis is Bullish.
  • Price levels have recovered to $0.190.
  • Resistance is present at $0.191.

The Dogecoin price analysis reveals the price is going up once again as the bullish momentum is overpowering the bears at present. The bulls are trying to find their way to recovery and have taken the price to the highest level of the last three weeks as, after consistent efforts, they have been able to bring the price above $0.190. The past few days proved favorable towards the cryptocurrency value as the price uplifted from $0.142 to the current price level of $0.190. Yet, today the coin rallied high, making the most recovery for a day for the current bullish trend.

DOGE/USD 1-day price chart: Bulls to encounter $0.191 resistance

The price is on the rise once again, as can be confirmed from the 1-day Dogecoin price analysis. The bulls have been able to recover successfully as the price levels are now touching the $0.190 height. The past few weeks proved fatal for the coin value as its value went down quite regularly. But now the bulls are back on track since 11th January, as a continuous bullish trend has been following, and the DOGE/USD gained more than eight percent value during the last 24 hours and a value of 22 percent over the past week.

Dogecoin price analysis: DOGE price rises to $0.190 as bullish momentum accelerates 1
DOGE/USD 1-day price chart. Source: TradingView

The volatility has been increasing quite rapidly, which means that a further uprise in price can be expected in the future. Whereas the upper and lower values of the Bollinger bands indicator are as follows; the upper band is settled at $0.193 representing resistance for DOGE, while the lower band is at $0.141. The moving average (MA) is trading at the $0.159 mark. The Relative Strength Index (RSI) score has reached up to index 61; the indicator is trading at a steep upwards curve, indicating the strong buying activity.

Dogecoin price analysis: Recent developments and further technical indications

The 4-hour Dogecoin price analysis shows the price is continuously covering range upwards. The price started to rally high at the end of the last trading session and has jumped high to $0.190 in the last four hours, thus strengthening the uptrend. The bulls have been ruling consistently for the past few hours, and it is expected that the price will break through $0.191 resistance in the coming hours.

Dogecoin price analysis: DOGE price rises to $0.190 as bullish momentum accelerates 2
DOGE/USD 4-hours price chart. Source: TradingView

The price is above the upper limit of the Bollinger bands value as well, which is currently settled at $0.184, representing support, and the lower limit has reached down to $0.132; the indicator is showing high volatility for DOGE. The RSI indicator has entered the oversold zone as it is trading at index 72 due to the high buying activity, and we expect the RSI will increase furthermore as the bullish momentum seems strong.

Dogecoin price analysis conclusion

The Dogecoin price analysis suggests the bullish momentum is quite strong as the coin has covered a range upwards up to $0.190 in the starting hours of the trading session today. Further improvement in price is also expected over the day. If DOGE manages to break above $0.191, then it will rise to a five-week high level.

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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