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Dogecoin price analysis: DOGE spikes towards $0.1580

DOGE

TL;DR Breakdown

  • The Dogecoin price analysis appears to be bullish.
  • The strongest resistance is present at $0.1620.
  • The strongest support is present at $0.1394.

The Dogecoin price analysis reveals the market following a solid bullish movement. On February 11, 2022, the price of Dogecoin was $0.1545. The cost of the meme cryptocurrency has experienced a downtrend which has caused the value of Dogecoin to decrease somewhat. On February 12, 2022, the price remained stable at around $0.1472, just before experiencing an uptrend today on February 13, 2022, which reached $0.1573. Dogecoin has been up 8.68% in the last 24 hours, with a trading volume of $1,075,958,153. SHIB currently trades at $0.1534 and ranks #10 with a love market cap of $20,451,153,857.

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 closing movement which means that the value of the cryptocurrency is less likely to experience volatile change. 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 $0.1587, which represents the strongest resistance for DOGE. The lower limit of the Bollinger’s band is present at $0.1394, 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 dynamic; for now, the market appears to move positively, increasing the value of the cryptocurrency.

Dogecoin price analysis: DOGE spikes towards $0.1580 1
DOGE/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is at 58, which means the assets are stable, falling into the upper neutral region. In addition, the RSI seems to follow an upward path, indicating an increasing market and movement towards inflation.

Dogecoin Price Analysis for 1-day: DOGE goes strongly bullish

Dogecoin price analysis reveals the market’s volatility experiencing a dormant movement with the resistance and support band moving toward each other. The price of the meme cryptocurrency will remain constant until the volatility fluctuates. The upper limit of the Bollinger’s band is present at $0.1620, which serves as the strongest resistance for DOGE. The lower limit of the Bollinger’s band is present at $0.1317, 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. It appears that the meme cryptocurrency has been experiencing a constant bullish direction in the last couple of days but has managed to maintain it today as well. However, the bulls might not be able to maintain this trend for long if the price breaks the resistance.

Dogecoin price analysis: DOGE spikes towards $0.1580 2
DOGE/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is at 51, which shows that the value of the meme cryptocurrency is stable, falling in the upper neutral region. The RSI appears to be moving slightly upwards, which indicates that the cost is increasing; it also shows the dedication of the bulls as they give strong 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. The bulls show promise and will do everything in their power to conserve the movement.

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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