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Dogecoin price analysis: DOGE continues higher, looks to break $0.065?

Dogecoin Price analysis 2022 07 15
TL;DR Breakdown
  • Dogecoin price analysis is bullish today.
  • DOGE/USD looks to continue higher.
  • Next resistance at $0.065.

Dogecoin price analysis is bullish today as we have seen a push above the $0.0625 resistance and further upside tested throughout the day. Therefore, DOGE/USD will likely head even higher and push towards the $0.065 mark next.

Dogecoin price analysis: DOGE continues higher, looks to break $0.065? 1
Cryptocurrency heat map. Source: Coin360

The market has traded in the green over the last 24 hours. The leader, Bitcoin, gained 1.88 percent, while Ethereum gained over 6 percent. Meanwhile, the rest of the top altcoins followed close by.

Dogecoin price movement in the last 24 hours: Dogecoin continues higher

DOGE/USD traded in a range of $0.06175 to $0.06426, indicating a moderate amount of volatility over the last 24 hours. Trading volume has increased by just 3.23 percent, totaling $371.8 million, while the total market cap trades around $8.46 billion, ranking the coin in 8th place overall.

DOGE/USD 4-hour chart: DOGE ready to continue higher?

The 4-hour chart shows the Dogecoin price action continuing to trade higher, indicating that a break above the $0.065 resistance will follow next.

DOGE continues higher, looks to break $0.065?
DOGE/USD 4-hour chart. Source: TradingView

Dogecoin price action has seen a strong decline earlier this week as new lows were slowly tested. After the last spike lower on Wednesday, DOGE/USD  quickly bounced from the $0.058 mark and set a clear higher swing low.

From there, previous resistance at $0.0625 was reclaimed late yesterday, bringing DOGE/USD to set a higher local high. Since then, we have seen steady consolidation with a retest of previous resistance as support.

Likely more upside will be seen later in the week, with the $0.065 resistance likely to be tested next. Once it breaks, the Dogecoin price action will have much more room for upside over the upcoming days.

Dogecoin price analysis: Conclusion 

Dogecoin price analysis is bullish today as we have seen further upside tested over the past hours. Therefore, DOGE/USD is not yet ready to give up and will likely move above the $0.065 resistance.

While waiting for Dogecoin to move further, see our articles on Siacoin wallet, Pi Wallet, and LTC Wallet Review.

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.

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