Dogecoin price analysis:  Bullish momentum starts building up again at $0.08133

Dogecoin Price analysis

TL;DR Breakdown

  • Dogecoin price analysis is strongly bullish
  • Resistance for DOGE is present at $0.08205
  • Strong support for DOGE is present at $0.08061

Today’s Dogecoin price analysis shows a bullish trend for the day as the chances of a further increase in price are there once again. As the price has reached the current higher levels, traders must be expecting new discoveries by DOGE. Although the price dropped to a comparatively lower the previous day, the bulls are now back in action for DOGE.

DOGE started racing again, and today’s market trend is going in favor of the bulls as well. A steep increment in DOGE/USD value has been detected, as the price has recovered up to $0.08133 after the bullish efforts seen today.

DOGE has shown good performance with also other cryptocurrencies showing the same bullish trend. The resistance for DOGE is present at $0.08205 and the support for DOGE is present at $0.08061 respectively. We expect the market to remain stable in the upcoming days with some traders predicting a capital appreciation of this cryptocurrency soon.

DOGE/USD 1-day price chart: Bulls aim for  a further price increase 

The one-day Dogecoin price analysis is confirming an upward price movement for the day, as the bulls have made a comeback on the price chart again after continuous defeat during the past week. Although the DOGE value underwent a decline in the past few days still, the price floated at a reasonably good level, and today’s market trend also supports buyers. The price is now at a $0.08133 position as the coin is racing toward an all-time high. The moving average (MA) value is trading at $0.0831 which is proving to be a great support for the buyers.

image 407
DOGE/USD 1-day price chart. Source: TradingView

The volatility in the one-day price chart is very high, which means that the price fluctuations might increase in the next few hours. The upper Bollinger band shows $0.0886 of value, whereas the lower Bollinger band dictates $0.0668. The Relative Strength Index (RSI) score has grown up to an index of 55.01 today as it hints at the buying activity in the market.

Dogecoin price analysis: Recent developments and further technical indications

The four-hour Dogecoin price analysis confirms that the price action is headed upward as the market has followed a bullish trend for the past few hours. A considerable rise in buying activity has been observed today, as the price increased up to $0.08133. Further recovery in DOGE/USD value is to follow if the bulls continue making their progress, as the next resistance is the all-time high of $0.08205 fur DOGE bulls to encounter. If we move ahead and discuss the moving average, then its value is at the $0.0812 marker after crossing above SMA 50 today.

image 408
DOGE/USD4-hour price chart. Source: TradingView

At the same time, the volatility has started to increase further, and the upper Bollinger band is now settled at the $0.0871 position, and the price has broken above the upper limit, whereas the lower Bollinger band is at the $0.0783 position. The RSI curve is moving ascendingly as well, and the score has enhanced up to index 44.62, just at the border of the overbought zone.

Doge price analysis conclusion

Dogecoin price analysis confirms a sharp recovery in the coin value today. This is quite encouraging news for the buyers, as the price underwent a substantial decline in the past few days. The bulls have taken the price up to a $0.08133 high after making a return in the last 24 hours.

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.
John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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