Dogecoin price analysis reveals that the market is following a bullish momentum. The Dogecoin price is now at $0.09123 and it has been trading in the green for the past few hours as the market sentiment appears to be optimistic.
The Dogecoin price is trading $0.07918 support level and has managed to stay above this point. The DOGE/USD pair has been fairly volatile in the past few weeks, but it appears that the bulls are finally gaining some momentum. The strongest resistance is present at $0.0917 and the bulls need to break this level in order to continue the uptrend.
The trading volume for DOGE is also increasing to $ 1 billion, indicating that more buyers are entering the market. The market cap for Dogecoin is now at $12 Billion and it appears that the coin is gaining traction.
Dogecoin price analysis on a 4-hour price chart: Bullish trend line
The 4-hour chart for Dogecoin price analysis reveals that the market has formed a major bullish trend line which is currently acting as a support for the market. Over the last four hours, the prices have made a significant move. The bulls have upheld the trend line and managed to stay above the $0.07918 support level.
The prices have seen a lot of volatility in the last 24 hours as the bands of Bollinger bands are widening. The upper Bollinger band has moved up to $0.087 and the lower band is hovering around $0.0732. The RSI indicator is also in the overbought area, suggesting that the buyers have some strength and are pushing prices higher. The MACD indicator is also in the bullish zone and it appears that the buyers are gaining momentum.
Dogecoin price analysis 1-day chart: Ascending triangle pattern
The Dogecoin price analysis on the 1-day chart reveals that the buyers are in full control of the market. The prices have been steadily increasing since the start of the last 24 hours. The ascending triangle pattern is also forming and the prices are now trading at the tip of the triangle. On the chart, the DOGE/USD pair is currently at $0.09123 and gaining around 6.97%.
The MACD indicator is also in the bullish zone, suggesting that the buyers are still in control of the market. The green candle on the chart is also indicating that the buyers are getting more aggressive. The signal line of the MACD indicator is also above the zero line and it appears that the buyers are gaining strength. The RSI on the 1-day is at 64.73 and it appears that the buyers might be able to maintain their momentum. The volatility of the market is also increasing with the upper Bollinger band reaching $0.087, and the lower band hovering around $0.0732.
Dogecoin price analysis conclusion
The Dogecoin price analysis reveals that the buyers are in control of the market and they are pushing prices higher. The bullish trend line on the 4-hour chart is providing strong support for the buyers and it appears that the buyers might be able to continue the uptrend. The next target for the buyers is to break the resistance at $0.0917 and if they can do that, then we can expect a further increase in price.