Dogecoin price analysis is bullish today. The DOGE/USD pair is trading at $0.0708 and is currently in an uptrend. The closest resistance is found at $0.08, while the key support level is at $0.0650.The Relative Strength Index (RSI) on the 4-hour timeframe is above 60, indicating that the bulls are still in control of the market.
The Moving Average Convergence Divergence (MACD) on the daily timeframe is also bullish as the signal line is above the MACD line. It seems like the Dogecoin price will continue to rise soon. Dogecoin price analysis is bullish today, with the DOGE/USD pair trading at $0.0708. The key resistance is found at $0.08, while the key support level is at $0.0650.The Relative Strength Index (RSI) on the 4-hour timeframe is above 60, indicating that the bulls are still in control of the market.
Dogecoin price movement in the last 24 hours: DOGE targets $0.073 and 0.08 resistance?
DOGE/USD bulls resumed their advance on Wednesday. After a brief consolidation phase around $0.0650, the price rallied to highs near $0.0780. The rally lost steam as the bulls failed to close the day above $0.0780. The Dogecoin price corrected lower and found support at $0.0690. The price has bounced off this support level and is currently trading at $0.0708.
DOGE/USD 4-hour chart: Recent price developments
On the hourly Dogecoin price analysis chart, we can see strong positive momentum over the previous hours, which has pushed the price higher and above the $0.07 resistance. As a result, we may anticipate additional gains later today and a clear tomorrow’s high.
The bulls are likely to target the $0.073 resistance level. If they push the price above this level, we may see an extension of the current bullish trend towards the $0.08 resistance level in the coming days. On the other hand, if the bulls fail to sustain the current momentum and the price starts to decline, we may see a retest of the $0.0690 support level. A break below this support could invalidate our bullish bias and open up the downside towards $0.0650 support.
More upside followed overnight, with prices reaching as high as $0.0749. However, the move higher lost steam, and the price pulled back to around $0.0720, where it is trading at the time of writing. The hourly chart shows that the bulls have been in control since yesterday and have pushed the price above the $0.07 resistance level. The RSI trades in bullish territory with no signs of a bearish reversal. The next level of resistance is found at $0.0750, and if the bulls can push the price above this level, we may see an extension of the current bullish trend towards $0.08 in the coming days.
Dogecoin price analysis: Conclusion
Dogecoin price analysis charts indicate slight bullish movements. The price is expected to target the $0.08 resistance level in the short term. If the bulls can push the price above this level, we may see an extension of the current bullish trend towards $0.08 in the coming days.
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