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Dogecoin price analysis: Price retraces back to $0.144 after bullish revival

Dogecoin price analysis Price retraces back to after bullish revival

TL;DR Breakdown

  • Coin value is standing at $0.144.
  • Dogecoin price analysis predicts uptrend.
  • Support is present at $0.123 end.

The most recent Dogecoin price analysis predicts a bullish trend for the cryptocurrency as a considerable rise in coin value was detected throughout the day. The price has leveled up to $0.144 due to the recent bullish drift. Although the bears were overpowering the market earlier, currently, the situation is going in favor of the buyers. Further intensification in the ongoing bullish wave is expected if the buying momentum gets stronger.

DOGE/USD 1-day price chart: Bulls resume to action after overcoming $0.143 hurdle

The one-day Dogecoin price analysis confirms a strong bullish trend for the day. The bulls have controlled the market throughout the day as the price covered an increasing movement in the past 24-hours. More profit seems to be on its way for Dogecoin buyers as the price just reached the $0.144 high. Further chances of revival seem close as the buyers persistently put in efforts. Moreover, the daily price chart’s moving average (MA) value is at $0.141.

Dogecoin price analysis: Price retraces back to $0.144 after bullish revival 1
DOGE/USD 1-day price chart. Source: TradingView

The Bollinger bands are converging, decreasing volatility and a greater chance of an uptrend in the next few days. Meanwhile, the upper Bollinger band shows $0.171 of value, whereas the lower Bollinger band displays a $0.123 value. The Bollinger Bands average is standing at the $0.147 mark at present. Lastly, the Relative Strength Index (RSI) score just reached 44.36 due to the recent upturn in price.

Dogecoin price analysis: Bulls remain incapable of transgressing $0.145 boundary

The hourly price prediction for DOGE/USD is in favor of the sellers, as a decline in coin value was detected during the past few hours. The bears have made a successful return in the last four hours as the cryptocurrency value receded to $0.144. This is rather discouraging news for the buyers, as the bulls were progressing swiftly in the earlier hours. Furthermore, if we discuss the Moving Average value as present in the four-hour price chart, it is standing at $0.1397.

Dogecoin price analysis: Price retraces back to $0.144 after bullish revival 2
DOGE/USD 4-hour price chart. Source: TradingView

A crossover between SMA 20 curve and the SMA 50 curve was widely expected, but now the chances seem to be delayed because of the sudden downturn. Moving on, the upper value of the Bollinger bands indicator settles at $0.145 extreme, whereas its lower value sets at $0.134 extreme. The RSI score is still quite high because of the previous bullish wave and is present at 59.04.

Dogecoin price analysis: Price retraces back to $0.144 after bullish revival 3
DOGE/USD technical indicators chart. Source: TradingView

The cryptocurrency market has been following a declining trend for the past few weeks if we analyze the situation from an overall point of view. This is why the technical indicators chart for DOGE/USD predicts a bearish trend by giving out a selling hint. There are 11 indicators on the selling position; ten are neutral, whereas only five are on the buying level.

The moving averages indicator gives support for the sellers by giving out a strong bearish signal. Eleven indicators are on the selling side, three are on the buying side, whereas only one is on the neutral side. An upward trend was observed in the past 24-hours hours, which is why the oscillators predict a bullish trend. There are nine oscillators on neutral point, two on buying, and zero on selling point.

Dogecoin price analysis conclusion

The given one-day and four-hour Dogecoin price analysis predicts an increasing trend for the day as the coin value heightened up to $0.144. The bears were dominating, but now the bulls seem to be taking control of the price trends. On the other side, the hourly price chart shows a red candlestick as the price experiences a subtle drop in the past four 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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