Dogecoin price analysis: DOGE/USD increases its value by 0.49% after strong bullish movement


TL;DR Breakdown

  • Dogecoin price analysis shows an uptrend
  • Resistance for DOGE is present at $0.07716
  • Support is still strong at $0.07578

Dogecoin price analysis is bullish today as the market witnessed a considerable improvement in price levels. The bulls led a rally, driving the price up to a high of $0.07631 during the day’s trading session. The coin saw gains of over 0.49% as it surged through major resistance levels and broke out to new highs for the last 24 hours. The market sentiment is currently in a strong bullish, and DOGE/USD currently ranks at #8 in the cryptocurrency rankings. The 24-hour trading volume has decreased by 60.94 percent and is now at $214 million and the total market cap of Dogecoin is currently at $10.11. Prices are anticipated to rise further in the near term as the market potential remains bullish.

Dogecoin price analysis 1-day chart: DOGE/USD reclaims a bullish signal at $0.07631

The 1-day chart for Dogecoin price analysis shows that the coin price has surged today. Bulls have covered a range from $0.07629 to $0.07630, with the highest price being recorded at $0.07631 today during the day’s trading session. The market volatility follows a compatible movement, resulting in the cryptocurrency being subject to volatile change on either extreme.

image 81
DOGE/USD 1-day price chart, Source: TradingView

As a result, the upper limit of Bollinger’s band rests at $0.0907, serving as the strongest resistance point for DOGE. While the lower limit of Bollinger’s band is present at $0.0761, serving as a support point for DOGE, The 20-day EMA has crossed over the 50-day EMA, which indicates that the bullish momentum is strong in this market now and could continue further in the near term. The RSI is currently trading at 44.05, which suggests that the coin has experienced a slight increase.

DOGE/USD 4-hour price chart: Latest Development

The 4-hour Dogecoin price analysis also shows that the coin has managed to break out of a symmetrical triangle pattern as it made its way up to the new 24-hour high of $0.07631 as the coin rose higher. This breakout is being seen as a sign of bullish momentum in the near term and could indicate further increases in price levels. Resistance levels for DOGE/USD are set at $0.07716, while the support levels are located at $0.07578.

image 80
DOGE/USD 4-hour price chart, Source: TradingView

The RSI is currently at 34.92, which suggests that the coin has experienced a slight increase in buying pressure as it appears to be climbing. The exponential moving average has crossed over the simple moving average, which indicates that the bullish momentum is strong in this market and could continue further in the near term. The Bollinger Bands are displaying the following figures; the upper Bollinger band is present at $0.0841 while the lower band is present at $0.0738, respectively, and the price has shot past the upper band. 

Dogecoin price analysis conclusion

Overall, Dogecoin’s price analysis today suggests that the coin should remain bullish and poised for further gains as long as it continues to move through key resistance levels on its way toward all-time highs. Investors should continue to be mindful of the market potential and keep an eye on future developments in order to make informed investment decisions.

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.

Derrick Clinton

Derrick Clinton

Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.

Related News

Hot Stories

Ethereum (ETH) and Bitcoin (BTC) Bounceback But Investors Look for a Robust ICO Project as a Bear Market Hedge; Will Orbeon Protocol (ORBN) Qualify?
11th Global Blockchain Congress by Agora Group Took Place on March 6th & 7th at Sofitel Dubai The Obelisk
Crypto Casinos Online: The Safest Place to Gamble?
5 Alternatives To Shiba Inu With High Growth Potential in 2023
Crypto Expert Forecasts for 2023 Look At Litecoin (LTC), Solana (SOL), and TMS Network (TMSN)

Follow Us

Industry News

Coinbase appeals to the Supreme Court on forced arbitration—here is what happened
NFTs could face 28% capital gains tax in the US: Here is what you need to know
Celsius estimated $144M legal and advisory expenses attracts mixed reactions
Coinbase expands to Brazil with a Pix Partnership
Sweden's largest pension fund sells entire shares in First Republic Bank at a $728 million loss

Add Your Heading Text Here