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Dogecoin price analysis: DOGE gains 9.49 percent as price touches $0.103

Dogecoin price analysis: DOGE gains 9.49 percent as price touches $0.103

TL;DR Breakdown

  • Dogecoin price analysis shows strong bullish momentum.
  • Resistance to DOGE is present at $0.110.
  • Support is present at the $0.089 level.

The Dogecoin price analysis is dictating an increase in the price value today. The price levels have increased again as bulls continue their lead after the correction that took place in the previous trading session, which resulted in a break upward for the price function. The coin value is $0.103 currently, after a further increase in the price level. The past few hours experienced good positive activity from the bullish side, yet the most recent trend has been in favor of bulls. The increase in price is significant, and further improvement is also anticipated.

DOGE/USD 1-day price chart: DOGE to retest $0.110 as resistance

The DOGE/USD pair is continue moving upward, according to the 24-hour Dogecoin price analysis, as bulls are now aiming for the $0.110 barrier, which is about to be tested. The previous peak high of $0.141, which was seen on 1 November 2022, will then be the bulls’ next target. However, the bulls were unable to hold the position for very long because the price fell the very next day. This will now be the next top resistance for the bulls to encounter if they manage to break through the current resistance.

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

Overall, the DOGE/USD pair reports gains of around 36.90% over the previous week and 9.49% over the previous 24 hours. As a result, the market cap has climbed by 9.51 percent, but the trading volume has declined by 35.62 percent today.

The volatility is mild, and the price is trading above the volatility indicator’s uppermost limit. which indicates a relatively positive signal for the future. The Bollinger bands show the upper band at $0.099, and the lower band at $0.073, representing the strongest support for DOGE. The Relative Strength Index (RSI) is moving upwards at index 61, and the curve shows the buying activity in the market. The moving average (MA) is trading at the $0.0879 level after crossing over the SMA 50 curve, which is a bullish crossover.

Dogecoin price analysis: Recent developments and further technical indications

The 4-hour Dogecoin price analysis reveals that DOGE is still racing high as it has been on an upward trend for the previous 16 hours with no corrections noticed. At the beginning of the trading day, bulls pushed the price higher and are currently doing so as they cover the range to the upwards.

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

The volatility is high, which indicates a relatively positive signal for the future. The Bollinger bands show the upper band at $0.105, representing the resistance for DOGE, and the lower band at $0.085, representing the strongest support for DOGE. The Relative Strength Index (RSI) is hovering near the border of the overbought region at index 66, and the curve is still moving upward, indicating that some pressure might also be building up.

Dogecoin price analysis conclusion

According to the Dogecoin price analysis, the cryptocurrency is now experiencing a positive trend. The price levels are making significant progress in their recovery, quite a bit of loss has been made up for, and certain resistance levels have now also become supports. If the coin can maintain these price levels for the upcoming days, this will be a very positive sign for the buyers.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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