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Dogecoin price analysis: DOGE to break past $0.07 over the weekend

Dogecoin price analysis
TL;DR Breakdown
  • Dogecoin price analysis is bullish today.
  • DOGE/USD looks to continue higher.
  • DOGE/USD found support at $0.502.

Dogecoin price analysis is bullish today as the market looks set to continue its move higher. After breaking out of a descending triangle pattern, DOGE/USD has found support at $0.502 and looks poised to move higher in the near term. Dogecoin is currently trading at $0.0620 and is up 3% daily.

Dogecoin price movement in the last 24 hours: DOGE looks poised to continue higher

Dogecoin price chart by TradingViewIn the last 24 hours, Dogecoin has continued its move higher and is currently trading at $0.0620. The market looks set to continue to move higher soon, with resistance at $0.0750. On the downside, support is seen at $0.0550 and $0.0502, below which further support is seen at $0.0450. Overall, the bias is bullish in the near term, with a move towards $0.0750 possible in the short term.

DOGE/USD 4-hour chart: Recent price developments

The 4-hour Dogecoin price analysis chart shows that DOGE/USD has broken out of a descending triangle pattern. This breakout sets up a potential move higher towards $0.0750 in the near term. On the downside, support is seen at $0.0550 and $0.0502, below which further support is seen at $0.0450. Overall, the bias is bullish in the near term, with a move towards $0.0750 possible in the short term.

image 152
DOGE/USD 4-hour chart. Source: TradingView

We can expect Dogecoin to continue its move higher. The market looks to test resistance at $0.0750 in the near term. On the downside, support is seen at $0.0550 and $0.0502, below which further support is seen at $0.0450. Overall, the bias is bullish in the near term, with a move towards $0.0750 possible in the short term.

The RSI is currently above 50, indicating that the market has some upside potential in the near term. The MACD is also bullish, with the last line above the slow line. Overall, the bias is bullish in the near term, with a move towards $0.0750 possible in the short term.

On the 4-hour chart, DOGE/USD has broken out of a descending triangle pattern and looks poised to move higher. The MACD indicator is currently in bullish territory, and the RSI is above 50, which indicates that the market has scope to move higher. However, resistance is seen at $0.0750, and a break above this level is needed for further upside.

Dogecoin price analysis: Conclusion 

Dogecoin price analysis is bullish today as the market looks set to continue its move higher. After breaking out of a descending triangle pattern, DOGE/USD has found support at $0.0502 and looks poised to move higher in the near term.

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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