Dogecoin price analysis: DOGE/USD rallies to $0.07082 as bulls target new high

Dogecoin price analysis

TL;DR Breakdown

  • Today’s Dogecoin price analysis indicates bullish signals
  • Dogecoin price witnessed a quick retracement during the day
  • DOGE found support around $0.06695 today

Today’s Dogecoin price analysis is bullish as the market has advanced strongly in the last 24 hours and is now close to the prior swing high of the $0.07082 mark. The bulls have taken control of the market and are pushing prices higher as they target a new all-time high of $0.07111 in the near future.

image 630
Cryptocurrency price heatmap, Source: Coin360

Over the past 24 hours, the market has swung mostly in the green with the bulls pushing prices higher. Bitcoin, Ethereum, Ripple, and Dogecoin have witnessed a sharp rally in the last 24 hours indicating a fundamental shift in the market.

Dogecoin price movement in the last 24 hours: DOGE rally eyes $0.07111 range

The 24-hour price Dogecoin price analysis shows that the market has been in an uptrend since opening trading today. The bull and bears have been seen battling for control over the market, but the bulls regained control and pushed the prices up to $0.07082, which is where it is currently trading. The price is still trading lower than its moving average (MA) value which is at the $0.0734 mark, and this indicates that the market has room for further growth in the near term.

image 629
DOGE/USD 24-hour price chart Source: TradingView

The RSI indicator is currently at the 36.79 level, which is a neutral zone, and this suggests that the market has neither overbought nor oversold conditions. The volatility is low as the Bollinger bands have narrowed, which is an indication of low price fluctuations. The upper value of the Bollinger bands indicator is now at $0.0734, while the lower value is at $0.0644 on 24-hour charts.

DOGE/USD 4-hour price chart: Bullish momentum recovers price up to $0.07082

The 4-hour chart for Dogecoin price analysis reveals that the market has formed a minor bullish trend line which is currently acting as a support for the market. Over the last four hours, the prices haven’t made any significant move. The bulls have upheld the prices well above the $0.07082 level, and they are likely to push the prices higher in the near future. The Moving average line is currently above the candlesticks indicating that the market is in a bullish phase.

image 628
DOGE/USD 4-hour price chart Source: TradingView

The volatility is also increasing, which is an encouraging sign for buyers regarding the upcoming price trends. Similarly, the upper edge of the Bollinger bands indicator now rests at $0.07111, representing the resistance, while its lower edge settles at $0.06695, representing the strongest support. At the same time, the Bollinger bands indicator displays an average of $0.07082. The relative strength index (RSI) is on an upwards curve of index 31.39, hinting at the buying activity in the market.

Dogecoin price analysis conclusion

To sum up our today’s Dogecoin price analysis, The market is currently in a bullish phase as the prices have surged above the $0.07082 level. We expect the market to continue rising in the near term as the bulls remain in control. The market is likely to remain in a sideways trend in the near term as the prices are expected to fluctuate between $0.06695 and $0.07111 levels.

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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