Dogecoin price analysis is again bullish for today. The DOGE/USD pair touched the $0.07822 mark today. Dogecoin is continuously on the rise and is successfully maintaining its support at $0.07518, which is good news for investors. The resistance level of Dogecoin has also increased to $0.08072 which is the next target of the currency. If Dogecoin is able to break through this level, then it can go up to $0.081 in no time.
Moreover, the trading volume of Dogecoin also increased and it is a good sign for investors. The current market momentum of Dogecoin is positive, but some corrections may be seen in the near future. So, investors should be careful and should not invest too heavily in Dogecoin.
Most of the market trend for today is in greens, with Bitcoin at $18,079 with a 4 percent gain in value, Ethereum at $1,393 with more than four percent gains, and another altcoin also showing positive movements.
DOGE/USD 1-day price chart: Dogecoin all set to touch $0.08072
The 1-day price chart for Dogecoin price analysis shows a bulls rally is on the way toward new highs of $0.08072. The pair is trading above the $0.07822 mark and has broken out from the short-term resistance at $0.08072. The market for Dogecoin price opened today’s trading section with a bearish trend at $0.07518. But the bulls managed to break out from this level and pushed the price up by more than 1.84 percent. The pair is now trading in an uptrend and is currently trading at $0.07822, with a bullish trend in the daily chart.
The Moving average convergence divergence (MACD) line is in the positive zone, indicating that the Dogecoin price could go up further. The relative strength index (RSI) is also in the positive zone, and it is currently at 42.86. The moving average is at the level of $0.0747 and is continuing to move up.
Dogecoin price analysis on a 4-hour price chart: Bullish trend continues
The 4-hour price chart for Dogecoin price analysis shows that the pair is continuously on the rise and is breaking out from strong resistance levels as ascending triangle pattern is seen in the chart. The buyers are in control of the market and are pushing the price up after recoveries from the bearish trend.
The MACD line is still in the positive zone, indicating that the bulls are still in control and could go up further. The histogram is also in the positive zone and is currently in the green candlestick. The RSI is also in the positive zone and is currently at 61.32. The moving average of the Dogecoin price pair is currently at the level of $0.07716 and is still rising.
Dogecoin price analysis conclusion
According to the Dogecoin price analysis, it looks like the bulls are back in control of the market and are pushing the price up. The pair is now trading above $0.07822 with a bullish trend in the charts. The bulls are expected to push the price up further and aim for new highs of $0.08072 if they manage to break out from the resistance at this level.
