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Dogecoin price analysis: Bulls take control as DOGE makes high of $0.09182

Dogecoin

TL;DR Breakdown

  • Dogecoin price analysis is bullish today
  • The strongest resistance is present at $0.09474
  • Support for DOGE is present at $0.08182

Dogecoin price analysis shows an uptrend in the market today. The price has recently bounced off of a strong support level at $0.08182 and is now attempting to break above the $0.09474 resistance level. If the bulls can continue to push price action higher, we could see DOGE regain strength and move toward the $0.10 level in the near future. DOGE currently trades at $0.09182; DOGE has been up 12.46% in the last 24 hours with a trading volume of $ 1,336,078,321 and a live market cap of $12,215,545,025. DOGE currently ranks at #8 in the cryptocurrency rankings.

DOGE/USD 1-day price chart: DOGE breaks past $0.09 as bulls continue to charge

Dogecoin price analysis has experienced an upward movement in the last few days. However, with the volatility increasing. Moreover, as the volatility increases, it makes the value of the cryptocurrency more vulnerable to change. As a result, the upper limit of Bollinger’s band rests at $0.01006, serving as the most substantial resistance for DOGE. Contrariwise, the lower limit of Bollinger’s band rests at $0.0702, serving as the strongest support for DOGE.

image 425
DOGE/USD 1-day price chart, Source: TradingView

The MACD indicator shows that there is a bullish crossover in the market and indicates that prices may continue to climb higher moving forward. The RSI indicator reached 46.63, suggesting that the market is overbought and due for a correction.

DOGE/USD 4-hour price analysis: Recent updates and further technical analysis

Dogecoin price analysis illustrates that the present condition of the market demonstrates bullish potential as the price moves upwards. Moreover, the market’s volatility follows an increasing movement, making the cryptocurrency more susceptible to volatile change on either extreme. As a result, the upper limit of Bollinger’s band rests at $0.0932, serving as another support point for DOGE. Conversely, the lower limit of Bollinger’s band is present at $0.0760, serving as a support point for DOGE.

image 426
DOGE/USD 4-hour price chart, Source: TradingView

Dogecoin price analysis reveals that the Relative Strength Index (RSI) score is 64.01, making the cryptocurrency enter the inflation region. Furthermore, the RSI score moves further upwards, indicating that the buying activity dominates the selling activity while moving towards further inflation. The MACD indicator shows a bullish crossover as the MACD line (blue) is above the signal line(red).

Dogecoin price analysis conclusion

Dogecoin price analysis shows bullish momentum and further bullish opportunities. Moreover, the bulls have shown their deterrence and might take control of the market soon for the long term as the market shows massive signs of any change. The market is expected to continue its uptrend in the near future as the DOGE/USD pair looks to move toward the $0.0918 level in the coming days.

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.

Derrick Clinton

Derrick Clinton

Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.

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