Dogecoin price analysis shows an uptrend over the past 24 hours, as the cryptocurrency broke through resistance at $0.08188. The price of Dogecoin is currently hovering around $0.08181, which suggests that bulls have been able to sustain their momentum and are attempting to push the price higher.
In the past few days, the bearish sentiment was quite dominant, as the Dogecoin price stayed in a narrow range of $0.07765 to $0.0800. The selling pressure was quite high, and the bears were able to prevent a price rally. However, the bulls have taken advantage of this opportunity and managed to break above the $0.0800 level.
Dogecoin price analysis 1-day price chart: DOGE successfully breaks above the $0.0810 crucial level
The 1-day Dogecoin price analysis report reveals that bulls have carried out a strong rally today after recovery from the lower range that has been in place for several days. The coin is trading hands at $0.08181 at the time of writing, gaining 3.82 percent in the past 24 hours, however in the past 7 days DOGE has seen a decrease of about 7.61 percent. The market capitalization of Dogecoin is currently at $11.36 billion, with a 24-hour trading volume of $369 billion.
The volatility is increasing as the volatility indicator, the Bollinger bands show a high degree of divergence, and the DOGE price recovered above the lower limit of the band. The upper Band is located at $0.0935 and the lower band is detected at $0.0756, indicating a slightly bullish trend in the short term. The relative strength index (RSI) is at 49.56, indicating that Dogecoin is still in a balanced state in terms of market movements. The moving average (MA) is also indicating a bullish trend with the MA50 line located at $0.07939 and the MA200 line at $0.08532, respectively.
Dogecoin price analysis: Resistance level at $0.08188 which could be a critical point for bulls
The 4-hour Dogecoin price analysis shows the price breakout was downwards today, but the correction was small, and soon bulls returned to elevate the price levels. After making a comeback, the bulls secured their position for four hours and then started to rally high just past a few hours back, and the price action is being observed to be covering the range upwards for the last hour as well as they have elevated the price level to $0.08181 currently.
The moving average indicator is present at $0.0797 just below the current price, indicating a potential bullish market. The volatility is still high, as the Bollinger bands are covering more area. The price is trading near the upper limit of the Bollinger band, which is at the $0.0815 mark, while the lower band is located at $0.0769, indicating a slightly bullish trend in the short term. The RSI is also on the positive side at 60.70, which indicates that bulls are gaining control over the market and could push the DOGE price higher in the coming days.
Dogecoin price analysis conclusion
The current Dogecoin price analysis shows that bullish momentum is dominating the price function. If the bullish support persists, it is highly expected that the Dogecoin price will break above the resistance level of $0.08188, which could be a critical point for bulls in their attempt to push the price higher.
