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Dogecoin price analysis: DOGE remains stable around the $0.1420 threshold

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 $0.1392.

The Dogecoin price analysis reveals the market following a solid bullish movement. On January 28, 2022, the price of Dogecoin was $0.1418. The cost of the meme cryptocurrency has experienced a slight uptrend which has caused the value of Dogecoin to increase somewhat. On January 29, 2022, the price remained stable under the $0.1440 mark, just before experiencing another uptrend today on January 30, 2022, which reached $0.1426. Dogecoin has been up 0.06% in the last 24 hours, with a trading volume of $386,222,963. Dogecoin currently ranks #10 on the cryptocurrency ranking in CoinMarketCap, with a live market capital of $18,938,091,598 and a circulating supply of 132,670,764,300 DOGE coins.

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 closing itself, causing the market to go into a significantly tight squeeze, 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, potentially resulting in explosive volatility in the coming days. 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 $0.1442, which represents the strongest resistance for DOGE. Conversely, the lower limit of the Bollinger’s band is present at $0.1392, 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 remains stable around the $0.1420 threshold 1
DOGE/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is at 51, 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: Bulls engulf the market

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 $0.1232, 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 remains stable around the $0.1420 threshold 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. Furthermore, the RSI appears to follow a linear path, indicating that the cost moves towards stability and the equivalence of the buying and selling activity.

Dogecoin Price Analysis Conclusion

Concluding the Dogecoin price analysis, we can deduce that the meme cryptocurrency has engulfed its market by the bulls. However, only time will tell how long they will maintain it. The current price of the cryptocurrency is $0.1425, and if the bulls can pull through, they might be able to increase it significantly.

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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