Dogecoin price analysis: DOGE price is in a bullish upswing and is over $0.07846

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TL;DR Breakdown

  • Dogecoin price analysis shows bullish today
  • DOGE/USD is facing resistance at $0.07864
  • Support for DOGE/USD is seen at $0.07339

    Dogecoin price analysis reveals a bullish trend today, with prices rising by 6.60% to an intraday high of $0.07846. Following the previous trading session, which resulted in an upward break for the price function at the start of today’s trading session, the price levels have risen once more as bulls maintain their lead. Support levels for DOGE are at $0.07339, and resistance levels are at $0.07864. In the subsequent hours, DOGE can break through the barrier level as bulls continue to dominate the market. Given that the bulls have effectively maintained the upward trend line since yesterday, the price has increased to the $0.07846 level. The 24-hour trading volume has increased by 157.22 percent and is now at $682,356,406, and the market cap for DOGE/USD is currently at $10,388,693,535.

    Dogecoin price analysis on 4-hour chart: DOGE/USD shows bullish strength as the price rises to $0.07846

    The 4-hour Dogecoin price analysis demonstrates that the current market condition has bullish potential as the price increases. On a 4-hour price chart, the coin has been making higher highs and lower lows, indicating that the bulls are in control of the market. The price has been trading at $0.07846 for the past 4 hours and is expected to stay there because the bulls are in control of the market.

    image 458
    DOGE/USD 4-hour price chart, Source: TradingView

    The Relative Strength Index (RSI) on a 4-hour price chart is currently at 45.08, which indicates that the market is overbought and the bulls are still in control of the market. The moving average convergence and divergence (MACD) line (blue) is currently above the signal line (red), which indicates that the market is in a strong uptrend. The Bollinger bands show the upper band at $0.0782, representing the resistance for DOGE, and the lower band at $0.0714, representing the strongest support for DOGE.

    DOGE/USD on 1-day price chart: strong bullish signal

    The 1-day Dogecoin price analysis shows a rising tendency in market volatility, making DOGE prices more vulnerable to unpredictable movements on either extreme. The upper limit of Bollinger’s band is at $0.1082, the lower limit is at $0.0667, and the medium line is at $6.18.

    image 457
    DOGE/USD 1-day price chart, Source: TradingView

    Additionally, the upward movement of the DOGE/USD price path as it tries to break through the resistance suggests bullish potential and reversal opportunities. According to technical research, the coin is now in a significantly bullish trend and is most likely to keep moving up. The cryptocurrency is overbought as the Relative Strength Index (RSI) is trading at 40.62. However, the Moving Average Convergence Divergence (MACD) shows a downward trend since the MACD line is below the signal line on the 1-day price chart

    Dogecoin price analysis conclusion

    In conclusion, the Dogecoin price analysis implies that the token is under the firm influence of the bulls and that over the longer term, the positive trend is likely to continue. The $0.07864 level continues to be the critical resistance level to watch out for and to avoid any further market decline, we will need to maintain the $0.07339 support level. The bullish trend is still in effect as DOGE soars to new highs of $0.07846.

    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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