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Dogecoin price analysis: Dogecoin bears gaining momentum for another downtrend

Dogecoin price analysis

TL;DR Breakdown

  • Dogecoin price analysis signals an uptrend at $0.08228
  • Support is relatively strong at $0.08076
  • Resistance for DOGE/USD is present at $0.08295

Today Dogecoin price analysis shows an upward trend for the day as the chances of a bullish recovery are increasing once again. Although the price dropped to a crucial level the previous day, today’s market trend is turning in favor of the bulls. A slight rise in DOGE/USD value has been detected, as the price has reached its former high again at $0.08228 with a slight increase of 0.53%.

DOGE/USD 1-day price chart: Bullish trend initiates price recovery above $0.08228 stand

The one-day Dogecoin price analysis is confirming an upward price movement for the day, as the bulls are struggling to make a comeback on the price chart again. Although the cryptocurrency value underwent a severe decline in the past day, today’s market trend supports buyers. The price is now at the $0.08228 position as the green candlestick has returned. The moving average (MA) value is still relatively high, at the $0.08295 mark.

image 409
DOGE/USD 1-day price chart. Source: TradingView

The volatility in the one-day price chart has been relatively low, but it is expected to increase in the coming days as the bulls look to regain control of the market. The upper Bollinger band is at the $0.09102 position, and the lower Bollinger band is at the $0.07639 mark, indicating room for the DOGE price to fluctuate in the coming days. The Relative Strength Index (RSI) value is at 45.83, indicating the possibility of another uptrend for the day.

Dogecoin price analysis: Price heads back to $0.08228 as bullish trend revives

The four-hour Dogecoin price analysis confirms that the market has followed a bullish trend for the past few hours. A considerable rise in buying activity has been observed for the past four hours, as the price increased up to $0.08228. Further recovery in DOGE/USD value is to follow if the bulls continue making their progress. If we move ahead and discuss the moving average, then its value is at the $0.082 mark.

image 410
DOGE/USD 4-hour price chart. Source: TradingView

On the other hand, the volatility increases, which is not a positive indication regarding future trends. The upper Bollinger band is now settled at the $0.0855 position, whereas the lower Bollinger band is at the $0.0754 position. The RSI curve is moving ascendingly as well, and the score has enhanced up to 55.08.

Dogecoin price analysis conclusion

The daily and hourly Dogecoin price analysis confirms a slight recovery in the coin value today. This is quite encouraging news for the buyers, as the price underwent a substantial decline in the past few days. The bulls have taken the price high after making a triumphant return in the last 24 hours. The hourly price chart is showing promising results as well as a bullish trend has been observed.

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.
Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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