Dogecoin price analysis shows an uptrend in the past 24 hours, with prices rising from around $0.08624 to over $0.08811. This is a significant increase of 2.25% since yesterday, when the coin was trading around $0.08621. Resistance for the DOGE/USD pair is seen at around $0.0902, and a break above this level could open the doors for further gains. The next major resistance lies at $0.0895, which acted as a strong support level today. On the downside, there is good support for the DOGE/USD pair at $0.0859, and any dips below this level could be bought into.
Dogecoin price analysis 1-day chart: As price goals rise to $0.08811, the upward trend continues.
The one-day Dogecoin price analysis shows that the bulls have been in control since the beginning of today, with prices consistently moving higher. Green candlesticks have been the order of the day, and this suggests that the bulls are in control. Momentum has been strong, with the DOGE/USD pair rising from $0.08621 to $0.08811 in the past few hours.
The technical indicators are also giving a bullish signal, as the MACD is showing a buy signal. This suggests that the bulls are looking to push prices higher in the near term. Moreover, the relative strength index (RSI) index is also in overbought territory, which suggests that the bulls are still in control. A crossover between SMA 20 and SMA 50 curves is taking place, which is a huge bullish indication and a great accomplishment for buyers
DOGE/USD 4-hour price chart: Latest development
The 4-hour Dogecoin price analysis shows that the bullish trend is still in play, with prices bouncing off the support level at $0.0859 and moving higher. The bulls are currently pushing prices toward key resistance, which is seen at $0.0902. However, the 24-hour trading volume for the DOGE/USD pair retraced to $696 million, and the market capitalization is currently at $11.7 billion.
The relative strength index (RSI) is currently at 61.54, which indicates that the market is neither overbought nor oversold. The moving average convergence and divergence (MACD) line is above the signal line, indicating that there is more room for price appreciation. The moving average is currently at $0.0884 and is headed for a crossover with the 4-hour 200 MA, which is another bullish indicator signaling further upward price action in the near future.
Dogecoin price analysis conclusion
In conclusion, the Dogecoin price analysis shows that the bulls are firmly in control and any dips should be used as buying opportunities. The next major resistance lies at $0.0902, and a break above this level could open the doors for further gains. The digital asset is currently trading at a key junction, and a breakout from either side of the range could set the tone for the next move. Both the hourly and the daily technical indicators are currently in a bullish state, and they are indicating that the bulls have the upper hand in the market.