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Dogecoin price analysis: DOGE/USD pair set to break past the daily resistance found at $0.08

Dogecoin Price analysis
TL;DR Breakdown
  • Dogecoin price analysis is bullish today.
  • DOGE/USD pair is currently trading at $0.06.
  • Dogecoin found resistance at $0.08.

Dogecoin price analysis is bullish today. The DOGE/USD pair is currently trading at $0.06, and the bulls are in control of the market. Dogecoin found resistance at $0.08, and the price has pulled back to $0.06. However, the bulls are still in control of the market and are likely to push the price higher soon.

The RSI is above 50, suggesting that the bulls are in control of the market. The MACD is also in the bullish zone, suggesting that the price is likely to move higher in the near term. The next major resistance for the bulls is at $0.08; if they can push the price above this level, we could see a sharp rally towards $0.10.

Dogecoin price movement in the last 24 hours: Bulls dominate the market

The last two days have seen Dogecoin prices largely range-bound as buyers and sellers battle for control around the $0.06 level, with some modest bullish momentum building in recent hours.

The overall Dogecoin price analysis shows that the bulls are still in control of the market and are likely to push the price higher soon. We remain bullish on Dogecoin price analysis and expect it to rally towards $0.08 in the near term. As mentioned before, Dogecoin found resistance at $0.08, and the price has pulled back to $0.06. However, the bulls are still in control of the market and are likely to push the price higher soon.

DOGE/USD 4-hour chart: Recent price developments

The $0.07 previous support has now been broken, setting a new high low at the $0.07 previous support after a rapid decline yesterday. The first reversal indicators have already been established, suggesting that another push might occur later this week.

Dogecoin price analysis
DOGE/USD 4-hour chart. Source: TradingView

Dogecoin price analysis has continued to set new highs over the past weeks. After Dogecoin found support at $0.05, it bounced back sharply from this level. The bulls are now attempting to push the price higher and will likely face resistance at $0.08. However, if they can sustain the momentum, we could see a move towards $0.10

Selling pressure returned during the middle of the day, but the Dogecoin bulls were able to hold on and push prices back up. The current price is testing the $0.07 resistance, and a break above this level could see prices move towards the $0.08 resistance.

Over the last few days, indicators of a reaction have appeared. This suggests that a reversal may be in play for the next few days. As a result, we anticipate more gains to follow unless the $0.07 support fails later today. Dogecoin will likely next target the $0.78 previous high, and when you consider the bigger picture over a week-long upswing, we believe there will be plenty more upside after that.

Dogecoin price analysis: Conclusion 

Today’s Dogecoin price analysis is bullish as another strong higher local low was established yesterday, and a modest reaction occurred overnight. As a result, we anticipate DOGE/USD to resume soon rising. We believe that bulls will push the market to the $0.0875 resistance level when the momentum picks up.

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.

Moses Kimathi

Moses Kimathi

Moses is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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