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Dogecoin price analysis: DOGE stables at $0.080, will bears strike again?

Dogecoin price analysis: DOGE stables at $0.080, will bears strike again?

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TL;DR

  • Dogecoin price analysis is bullish today.
  • DOGE/USD price has increased up to $0.081.
  • Strong support is present at $0.075.

Today the price is expected to rise, according to the Dogecoin price analysis. Price has significantly increased since the start of the current session. Throughout the previous week, the price has been continuously depreciating, but as of today, the market began displaying a bullish feeling for the DOGE/USD pair as buying activity intensified. Even though the upswing is extremely gentle, it may became stronger over time, and at least a significant shift in the price has occurred.

DOGE/USD 1-day price chart: Can bears make a return

The price levels have regained momentum, according to the 1-day price chart for Dogecoin price analysis, even though they are still in the lower price range when viewed from a bird’s eye. However, the current momentum is significantly supporting the value of the cryptocurrency. Today, the DOGE/USD pair traded between $0.080 and $0.082. Overall, DOGE/USD increased by a little less than 0.34 percent during the past 24 hours, but if we look at the coin value over the previous 7 days, it has fallen by almost 12.72 percent.

Doge 1 2
DOGE/USD 1-day price chart. Source: TradingView

With the upper and lower Bollinger bands at $0.097 and $0.080, respectively, respectively, the volatility of the cryptocurrency is slowly rising as the bands’ ends move apart. Due to the previous days’ downturn, the mean average line of the Bollinger bands is still significantly above the price level at the $0.088 mark. In the future days, DOGE/USD buyers’ may have some opportunities as a result of the indicator’s expansion.

The relative strength index (RSI) is moving upward, which is a promising sign. There is plenty of room for buyers to use their skills to push the price up even if it is relatively on the lower side at 42 index, which is in the lower half of the neutral zone, but is still a decent score.

The Dogecoin price analysis: Recent developments and further technical indications

The Dogecoin price analysis 4-hour price chart demonstrates that price is increase at the start of the day was impressive as bulls took the lead. The price almost reached above MA value, but the selling pressure is building again at the moment. Price is still trading far below the average of the Bollinger bands.

Doge 4 2
DOGE/USD 4-hours price chart. Source: TradingView

The 4-hour price chart for Dogecoin price analysis shows that the bulls still have an upper hand. The top Bollinger band is at 0.094 level, where as the lower band is at the $0.077 level, indicating high volatility for the crypto pair price action.

Dogecoin price analysis: Conclusion

We expect DOGE/USD will trade in the $0.080 to $0.083 range over the course of the next 24 hours as per the hourly and daily Dogecoin price analysis based on the available technical indicators and market conditions. However, there are several bearish indicators mixed in with the optimistic price movement.

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.

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Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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