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Dogecoin price analysis: DOGE bearish at $0.1413

DOGE

TL;DR Breakdown

  • Dogecoin price analysis appears to be bullish.
  • The strongest resistance is present at $0.1623.
  • The strongest support is present at $0.1354.

The Dogecoin price analysis reveals the market following a bearish movement showing bullish potential. On February 17, 2022, the price of Dogecoin was $0.1497. The cost of the meme cryptocurrency has experienced a downtrend which has caused the value of Dogecoin to decrease significantly down to $0.1368. On February 18, 2022, the price remained stable at around the $0.1400 mark, just before experiencing an uptrend today on February 19, 2022, which reached $0.1459 just before declining towards $0.1413. Dogecoin has been up 1.07% in the last 24 hours, with a trading volume of $773,377,655. DOGE currently trades at $0.1413 and ranks #11 with a live market cap of $18,751,309,868.

DOGE/USD 4-hour price analysis: Recent updates

Dogecoin price analysis reveals the market’s volatility to be following a closing 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 explosive change on either extreme. The upper limit of the Bollinger’s band is present at $0.1516, which represents the strongest resistance for DOGE. The lower limit of the Bollinger’s band is present at $0.1354, 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 bearish at $0.1413 1
DOGE/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is at 45, which means the assets are stable, falling into the lower neutral region. In addition, the RSI seems to follow an upward path, indicating an increasing market and movement towards stability.

Dogecoin Price Analysis for 1-day: DOGE moves upwards

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 $0.1623, which serves as the strongest resistance for DOGE. The lower limit of the Bollinger’s band is present at $0.1322, which serves as the strongest support for DOGE.

The DOGE/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish movement. It appears that the meme cryptocurrency has been experiencing a fluctuating direction in the last couple of days but has managed to side with the bears. However, the bears might not be able to maintain this trend for long if the price breaks the resistance.

Dogecoin price analysis: DOGE bearish at $0.1413 2
DOGE/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is at 44, which shows that the value of the meme cryptocurrency is stable, falling in the upper neutral region. However, 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. But, on the other hand, 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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