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Dogecoin price analysis: DOGE rises smoothly for $0.1440

DOGE

TL;DR Breakdown

  • The Dogecoin price analysis appears to be bullish.
  • The strongest resistance is present at $0.1863.
  • The strongest support is present at $0.1363.

The Dogecoin price analysis reveals the market following a solid bullish movement. On January 27, 2022, the price of Dogecoin was $0.1452. The cost of the meme cryptocurrency has experienced a downtrend which has caused the value of Dogecoin to decrease somewhat. On January 28, 2022, the price remained stable at around $0.1427, just before experiencing an uptrend today on January 29, 2022, which reached $0.1429. Dogecoin has been up 2.47% in the last 24 hours, with a trading volume of $459,707,490.

DOGE/USD 4-hour price analysis: Recent updates

Dogecoin price analysis reveals the market’s volatility to be following a bullish trend, with its volatility following a dormant movement which means that the value of the cryptocurrency is staying stable with little chance of change. The market appears to have experienced a squeeze in the last few days, resulting in the markets’ closure. It seems that the DOGE/USD price has become less vulnerable to undergo volatile change on either extreme. The upper limit of the Bollinger’s band is present at $0.1492, which represents the strongest resistance for DOGE. The lower limit of the Bollinger’s band is present at $0.1363, which serves as the strongest support for DOGE.

The DOGE/USD price appears to be crossing over the curve of the Moving Average, indicating a bullish movement. However, tracing the path of the DOGE/USD price, we can also deduce that the price moves towards resistance. If they happen to meet in the coming days, the bears might use that to their advantage and reverse the market.

Dogecoin price analysis: DOGE rises smoothly for $0.1440 1
DOGE/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is at 52, which means the assets are stable, falling into the upper neutral region. In addition, the RSI seems to follow a linear path, indicating stability and the equivalence of the buying and selling activity.

Dogecoin Price Analysis for 1-day: DOGE enters bullish domain

Dogecoin price analysis reveals the market’s volatility experiencing an opening movement with the resistance and support band moving away from each other. The price of the meme cryptocurrency is now more likely to change either extreme. The upper limit of the Bollinger’s band is present at $ 0.1863, which serves as the strongest resistance for DOGE. The lower limit of the Bollinger’s band is present at $0.1233, which serves as the strongest support for DOGE.

The DOGE/USD price can be seen crossing over the curve of the Moving Average, indicating a new bullish movement. It appears that the meme cryptocurrency has been experiencing a bearish direction in the last couple of days but has managed to pull through and reverse it. However, the bulls might not be able to maintain this trend.

Dogecoin price analysis: DOGE rises smoothly for $0.1440 2
DOGE/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is at 40, which shows that the value of the meme cryptocurrency is stable, falling in the lower neutral region. The RSI appears to be moving slightly upwards, which indicates that the cost is increasing little by little; it also shows the dedication of the bulls as they give momentum to the buying activity.

Dogecoin Price Analysis Conclusion

Concluding the Dogecoin price analysis, we can deduce that the meme cryptocurrency has begun to have entered a whole bullish domain where the bulls will work hard on raising the value. However, the bulls might not maintain the trend for long.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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