Dogecoin price analysis: DOGE forms a bullish pattern at $0.0924

Dogecoin price analysis confirms an increasing trend for the day as the green candlestick has returned on the price chart once again. A downtrend was at its peak earlier this week, today’s trend has been relatively in favor of the buyers. The green candlestick is marking an upward price movement as the price has once again reached the $0.0924 peak.

Load Error

The DOGE/USD price has gained about 2.40% within the last 24 hours and the market cap is sitting at $12,449,904,932, and the 24 -the hour volume is at $963,818,010. Strong support for DOGE is present at $0.08875 as the buyers are able to push back against any bearish pressure and keep the price from falling below this level. As for resistance levels, the nearest one can be found at $0.09575 where the buyers are likely to meet a lot of resistance.

DOGE/USD 1-day price chart:  Dogecoin soars above $0.0939 after bullish input

The one-day Dogecoin price analysis is showing support for the bulls today as a substantial amount of rising in DOGE/USD value is being observed. This is an encouraging sign for the buyers as the cryptocurrency faced significant damage in the last past hours. The price is now retouching the $0.0924 mark, and it can be predicted that a further uptrend is coming ahead. The moving average (MA) value in the one-day price chart is $0.0899.

© Provided by Cryptopolitan
DOGE/USD 1-day price chart. Source: TradingView

The volatility is increasing tremendously, indicating that future trends might be on the bearish side. The Bollinger bands are currently expanding, The upper Bollinger band is at $0.0949 and the lower Bollinger band is at $0.0793. The Relative Strength Index (RSI) is also pointing towards a bullish momentum as its value has risen to 60.69 and continues upwards, indicating that no bearish trend reversal can be expected in the near future of the Dogecoin price analysis.

Dogecoin price analysis: DOGE curve ascends to $0.0924 after a recent uprise

The four hours Dogecoin price analysis is indicating an increasing trend as the cryptocurrency value significantly improved in the last few hours. The short-term trending line is now moving upward because of the constant rise in DOGE/USD value. The price has reached $0.0924 as the bullish momentum has been intensifying for the past four hours. The moving average is still at a lower position than the current price.

© Provided by Cryptopolitan
DOGE/USD 4-hour price chart. Source: TradingView

The Relative Strength Index (RSI) is also pointing at an upwards trend with its value rising to 57.21, indicating that the buyers are in control of DOGE/USD. The Bollinger bands were relatively wide at the beginning of the day but have now converged to an average level with its upper band at $0.0980 and lower band at $0.0861. This is a sign that volatility has decreased significantly while a steady trend is now in place.

Dogecoin price analysis conclusion

Overall,  the Dogecoin price analysis shows that the bullish sentiment has returned, with DOGE/USD rising above the $0.0924 level. The price is likely to test its resistance at $0.09575 in the coming days and may even break that level if buyers continue to accumulate more DOGE tokens.

Continue Reading