Bitcoin
$ 30,233.00 2.38%
Ethereum
$ 2,036.74 4.00%
Solana
$ 52.00 2.19%
Dogecoin
$ 0.086870 1.64%
ApeCoin
$ 8.02 3.53%
STEPN
$ 1.40 4.99%
Terra
$ 0.000140 2.79%

Dogecoin price analysis: DOGE sets a higher low, looks to break $0.145?

Dogecoin Price analysis

TL;DR Breakdown

  • Dogecoin price analysis is bullish today.
  • DOGE/USD saw a higher local low set yesterday.
  • Bullish momentum returned overnight.

Dogecoin price analysis is bullish today as we have seen a strong push higher over the last hours after another higher low was set yesterday. Therefore, DOGE/USD will likely break above $0.145 and look to test the previous swing high at $0.154 next week.

Dogecoin price analysis: DOGE sets a higher low, looks to break $0.145? 1
Cryptocurrency heat map. Source: Coin360

The market has traded slightly in the red over the last 24 hours. The leaders, Bitcoin and Ethereum, are both in the red with 0.65 and 0.25 percent loss. Meanwhile, Dogecoin follows with a 0.37 percent gain.

Dogecoin price movement in the last 24 hours: Dogecoin reverses back to the upside, tests previous local high

DOGE/USD traded in a range of $0.1371 – $0.1433, indicating substantial volatility over the last 24 hours. Trading volume has declined by 3.22 percent, totaling $688 billion, while the total market cap trades at $18.94 billion, resulting in a market rank of 12th place.

DOGE/USD 4-hour chart: DOGE rejected for now 

On the 4-hour chart, we can see the current attempt to break higher already leading to a new local higher high, however, some rejection is seen over the last hours.

Dogecoin price analysis: DOGE sets a higher low, looks to break $0.145?
DOGE/USD 4-hour chart. Source: TradingView

Dogecoin price action has seen new highs tested earlier this week. After another strong rally higher, the current high at $0.154 was reached on the 28th of March.

Retracement followed rather quickly to $0.14 previous resistance turned support. After some consolidation during the middle of the week, DOGE/USD pushed even lower to the $0.135 mark.

Since then, another lower high was set, indicating bearishness. However, a higher low was set yesterday, indicating indecision in the market. Therefore, the Dogecoin price needs to break higher once more if more upside can be expected later in the month.

Dogecoin price analysis: Conclusion 

Dogecoin price analysis is bearish today as we have seen a strong higher local low set yesterday, leading to another push higher so far today. Therefore, a break higher can be expected towards the $0.154 previous major swing high.

While waiting for Dogecoin to move further, see our articles on Web3 Startups, Staking Enjin Coin, and Where to buy DOGE.

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.

Lapin

Lapin

Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

Related News

Hot Stories

Seth Green loses his 4 NFTs in a Phishing scam; begs not to buy them.
Bitcoin, Ethereum, Shiba Inu, and FTX Token Daily Price Analyses – 19 May Roundup
Mike Novogratz preaches humility in investments and keeps his LUNA tattoo 
Ripple price analysis: XRP/USD set to break higher in the next 24 hours
Dogecoin price analysis: DOGE/USD set to break above the daily resistance

Follow Us

Industry News

Gabe Plotkin's hedge fund Melvin Capital shut its doors this week
CFTC indicts 2 men for running a $44M crypto Ponzi scheme
Goldman Sachs: crypto crash has little effect on the US economy
Commonwealth bank halts crypto pilot program
Mike Novogratz preaches humility in investments and keeps his LUNA tattoo