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Dogecoin price analysis: Price manages to break through the $0.09269 barrier with bullish support

Dogecoin price analysis

TL;DR Breakdown

  • Dogecoin price analysis is bullish today
  • Dogecoin price faces resistance at $0.09336
  • Support is strong at the $0.0793 level

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Cryptocurrencies price heatmap, Source: Coin360

The Dogecoin price analysis has been on an upward trajectory in recent days, breaking through the $0.09269 barrier with bullish support. The uptrend has been getting stronger for the past few days, and today the price managed to escape the resistance present at $0.09336. The price is expected that it will soon move on to further higher levels in the upcoming week. Further recovery is possible only if the support remains strong at $0.0793. The most of other cryptocurrencies are moving in down trends today, so Dogecoin has a unique opportunity to make further gains in the coming weeks.

DOGE/USD 1-day price chart: Price hits $0.09269 high as bullish trend aggravates

The one-day Dogecoin price analysis is confirming an upward trend for the day as an increase in price has been reported. The price has constantly been turning to higher points in the past few weeks, as the bulls have been trending. Today, a significant rise in price was observed as the price moved on to $0.09269 in height. This is a highly encouraging sign for the buyers as the price has gone quite higher than the moving average (MA) value, i.e., $0.1006.

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DOGE/USD 1-day price chart Source: TradingView

The MACD indicator has also been showing a positive trend in price movements. as the histogram has turned to positive values. The RSI indicator is also showing a strong bullish trend, as the value currently stands at 65.43. All in all, it seems that the price will continue to move higher and reach new heights during the coming weeks.

Dogecoin price analysis: Latest developments and further technical indications

The 4-hour Dogecoin price analysis shows the crypto pair price is following an uptrend on the four hours price chart as the price has undergone a considerable amount of increase over the past few days. Most of the price increase has come from the bulls’ efforts, with the price continually moving higher and higher. The most recent price peak was found at $0.09269, and this is what makes it clear that the market sentiment is bullish.

image 217
DOGE/USD 4-hour price chart Source: TradingView

The RSI indicator is currently at around 40.55, which indicates a strong bullish movement on the horizon. The MACD momentum indicator has also turned to positive values and is showing an upward trend in price movements. The Moving average on a 4-hours chart is also indicating a strong uptrend as the latest price value has crossed over it.

Dogecoin price analysis conclusion

The Dogecoin price analysis is bullish today as the coin, after breaking downwards, managed to rally higher and is trading in greens at the moment. We expect DOGE/USD to continue upside after retracing for a few hours more, If the trend continues, the next resistance above is 0.09269, and if that breaks we may expect the price to move further higher to 0.0947- 0.0950 levels soon.

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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