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Dogecoin price analysis: DOGE enters bullish domain at $0.1203

DOGE

TL;DR Breakdown

  • Dogecoin price analysis appears to be bullish.
  • The strongest resistance is present at $0.1300.
  • The strongest support is present at $0.1141.

The Dogecoin price analysis reveals the market to continue a bullish movement showing massive room for further bullish activity. DOGE/USD cost of the meme cryptocurrency had experienced a massive decreasing trend which has caused the value of Dogecoin to crash to $0.1175 on March 20, 2022 but shifted to a positive momentum the following day.

Today, on March 21, 2022, the cryptocurrency price has spiked to $0.1203. Dogecoin has been down 1.95% in the last 24 hours, with a trading volume of $435,729,760. DOGE currently trades at $0.1203 and ranks #13 with a live market cap of $15,974,182,053 at the time of writing.

DOGE/USD 4-hour price analysis: Recent updates

Dogecoin price analysis reveals the market’s volatility following an opening trend. With its volatility following an increasing movement, the value of the cryptocurrency is more likely to undergo volatile change. As a result, the DOGE/USD price has become more vulnerable to change from either extreme. The upper limit of the Bollinger’s band is present at $0.1251, which represents the strongest resistance for DOGE. Conversely, the lower limit of the Bollinger’s band is present at $0.1141, which serves as the strongest support for DOGE.

The DOGE/USD price appears to be crossing under the curve of the Moving Average, indicating bearish movement. However, tracing the path of the DOGE/USD price, we can also deduce that the price broke the resistance recently, followed by a significant decline, and now has begun following an upward approach. Therefore, the bulls might regain their advantage and raise the DOGE price as the price has started moving upwards.

Dogecoin price analysis: DOGE enters bullish domain at $0.1203 1
DOGE/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is at 56, 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 along with movement towards inflation. The rising RSI score indicates the dominant buying activity.

Dogecoin Price Analysis for 1-day: DOGE gains value

Dogecoin price analysis reveals the market’s volatility experiencing a slightly decreasing movement with the resistance and support band moving towards each other. As a result, the price of the meme cryptocurrency will proceed with volatility; for now, the DOGE price appears to be less susceptible to volatile change. As a result, the upper limit of the Bollinger’s band is present at $0.1300, which serves as the strongest resistance for DOGE. Conversely, the lower limit of the Bollinger’s band is present at $0.1087, 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. Today, the meme cryptocurrency has entered a solid bullish domain and is showing signs of a consistent market as the price moves linearly.

Dogecoin price analysis: DOGE enters bullish domain at $0.1203 2
DOGE/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is at 46, which shows that the value of the meme cryptocurrency is stable, falling in the lower neutral region. However, the RSI appears to be moving upward, which indicates an increasing market with dominant buying activity.

Dogecoin Price Analysis Conclusion

Concluding the Dogecoin price analysis, we deduce that the meme cryptocurrency has continued its bullish movement. Now the bulls are rulers of the market and are hard at work to increase the value of DOGE. However, the price showed bearish opportunities in the past few hours, which have been extinguished now.

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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