Dogecoin price analysis is on a bullish trend today, with the DOGE/USD pair rising to the $0.07698 mark. The bulls have been pushing the coin higher since the start of today, and it appears that they are still strongly in control. The price movement has been quite volatile, but the overall trend is up. However, the digital asset is encountering resistance and may retreat to test support at $0.0732. The price movement recently produced a bullish engulfing candlestick pattern, which shows that the bears are losing ground. The resistance for the DOGE/USD pair is at $0.07876, and a break above this level could lead to Dogecoin aiming for the next resistance level at $0.07880. The market cap for the coin stands at $10.2 billion, and the 24-hour trading volume is at $505 million.
Dogecoin price analysis 1-day chart
The 1-day Dogecoin price analysis shows that the coin is in a strong uptrend with buyers firmly in control. The rising trendline indicates that there is no clear resistance level and the bulls are likely to push the price even higher. market volatility follows a slightly closing movement, the cryptocurrency is less vulnerable to volatile change on either extreme.
The upper limit of Bollinger’s band is present at $0.0837, which serves as a resistance point for DOGE. Conversely, the lower limit of Bollinger’s band is currently at $0.0648, which serves as another support point for DOGE. The moving average convergence and divergence (MACD) indicator is also in the bullish zone, indicating that the momentum is strong. The RSI indicator is currently at 36.58 and indicates that the coin is in overbought territory.Â
DOGE/USD 4-hour price chart: Latest development
The 4-hour Dogecoin price analysis also shows that the coin is trading within a strong uptrend. The bulls are pushing the price higher, while the bears are trying to keep it in check. The resistance level is at $0.07876, while the support level is at $0.0732. The overall trend of the coin is bullish, and it appears that the bulls are in control.Â
The technical indicators also suggest that the bulls are firmly in control. The moving average convergence and divergence (MACD)) is in the bullish zone and indicates that there is strong buying pressure in the market. The RSI is also above 50, indicating that the coin is neither overbought nor oversold. The Bollinger Band upper limit is $0.0790, acting as the strongest resistance point for DOGE. The lower limit of Bollinger’s band, on the other hand, is at $0.0678, representing the strongest DOGE support
Dogecoin price analysis conclusion
Overall, it appears that Dogecoin is in a strong uptrend, and the bulls are likely to push it even higher. The technical indicators also suggest that the coin is in a strong bullish trend, and the buyers are firmly in control. Investors should keep an eye on the key support and resistance levels to get a better understanding of the current market sentiment.
