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Dogecoin price analysis: DOGE/USD consolidating below $0.1488 as bulls warm up ahead of rally

Dogecoin Price analysis

TL;DR Breakdown

  • Dogecoin price analysis predicts a bullish trend
  • Resistance for DOGE/USD is present at $0.1572
  • Support for DOGE is present at $0.117

Dogecoin price analysis shows that the market momentum has revived and the bulls are in control. The price is currently trading at $0.1488 and is expected to rise further up to the $0.1572 mark. The cryptocurrency started the month on a strong note with the bulls pushing the price up to the $0.1572 level.

Resistance for DOGE/USD is present at $0.1572. This is a key level to watch out for as a break above this resistance could see the price target at the $0.16 resistance level. On the downside, support for DOGE/USD is present at $0.117. A break below this support could see the price target at the $0.105 support level. Overall, the market looks bullish and is expected to continue its upward trend.

Dogecoin price analysis 1-day price chart: Upside momentum gathers pace

The 24 -hour Dogecoin price analysis shows that the market is in a bullish trend. The bulls have been in control of the market as the price is up by 21.19%. The market capitalization is currently at $19 billion and the 24-hour trading volume is at $7.9 billion. The total market supply is at 129.6 billion DOGE coins. The market for DOGE has formed higher highs and higher lows, indicating a bullish trend.

image 13
DOGE/USD 24-hour price chart Source: TradingView

The Technical indicator for the DOGE/USD pair is currently giving a bullish signal as the RSI indicator has risen above the 60.00 level and is currently trading at 66.54. The MACD indicator is also in the bullish zone and is currently indicating a strong upward trend for the DOGE/USD pair. MA50 is currently indicating a strong bullish trend for the DOGE/USD pair and is currently trading at $0.0.668. MA200 is also in the bullish zone and is currently trading at $0.0/0775.

DOGE/USD 4-hour price chart: Recent updates

The 4-hour Dogecoin price analysis shows that the market is in a strong uptrend as the price has risen above the $0.117 level. The market bulls and bearish have been battling for control but the bulls have been able to push the price up to the $0.1488 level. The market looks set to continue its upward trend as the bulls remain in control.

image 11
DOGE/USD 4-hour price chart Source: TradingView

The 4-hour MACD indicator is currently in the bullish zone as the line blue line is above the line red line. The 4-hour RSI indicator is also in bullish territory as it is currently trading at 67.22. The 4-hour MA50 is indicating a strong upward trend as it is currently trading at $0.0932. The 4-hour MA200 is also in the bullish zone and is currently trading at $0.0637.

Dogecoin price analysis conclusion

Dogecoin price analysis is present in a bullish trend as prices have been increasing steadily over the past few hours. However, traders should be cautious as the prices may consolidate before making another move. The next few days will be crucial in determining the direction of the market. DOGE/USD is among the few cryptocurrencies that have shown some stability in the last few days while most others are still struggling to find their footing.

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.
John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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