The Dogecoin price analysis is on the bullish side as it is showing a slight improvement in the price today, as the price has slightly improved up to the $0.07749 level. The price movement has been in a quite narrow range, but the downtrend has been halted for now, despite the fact that bulls also lack the momentum to rule the charts with an iron fist. Yet, the bulls have taken a small step towards recovery today as the green candlestick has finally emerged above the $0.07753 resistance mark.
The Investors of DOGE are now hoping for a major breakthrough above the $0.07753 resistance level, after which, the next target lies at the $0.0800 mark.
DOGE/USD 1-day price chart: Bulls pursue $0.07753 as their next target
The 1-day Dogecoin price analysis indicates a high bullish momentum. However, the bulls have been dominating the market as they have caused a further increase in the price today. The bulls have taken the price to $0.07749, and now the coin shows a 7.74 percent increase in price over the last 24 hours. The trading volume has also increased by 177.43 percent, and the market cap went up by 7.65 percent today, which has resulted in the market dominance of the coin increasing by 0.02 percent.
The moving average (MA) is also trading below the SMA 50 curve at $ 0.07261, which could be a sign of more bullishness in the future. The technical indicators are also showing signs of potential bullishness as the MACD line has crossed over the signal line from below, which is a sign of a bullish cross. The RSI is also trading at 39.26, which indicates that the coin is trading in the neutral zone.
Dogecoin price analysis: Recent updates
The 4-hour price chart for Dogecoin price analysis is giving out a bullish signal as well, as the bulls have ruled the price charts for 24 hours consecutively, and just recently, the selling pressure has again appeared as the last candlestick is red. But the bullish lead is still prominent as the balance of power is on the bullish side, and the price is trading in greens.
The moving average is below the price value because of the recent bullish trends and is currently standing at $0.07350. Moreover, the MACD indicator is showing a bullish cross as the MACD line is trading above the signal line. The RSI also took a turn upwards as the correction has been completed and is currently trading at 56.04.
Dogecoin price analysis conclusion
The Dogecoin price analysis is bullish for today as bulls have further increased the cryptocurrency’s price. The most recent price trend line is forming upwards, and a further increase in price level above $0.07749 is also expected if the bullish momentum continues.
