HomeAltcoinsDogecoin price analysis: DOGE set to regain strength to move toward $0.09066

Dogecoin price analysis: DOGE set to regain strength to move toward $0.09066

-


Dogecoin price analysis shows an uptrend in the market today. The price has recently bounced off of a strong support level at $0.08568 and is now attempting to break above the $0.09066 resistance level. If the bulls can continue to push price action higher, we could see DOGE regain strength and move toward the $0.10 level in the near future.

However the larger cryptocurrency market continues to be bearish overall, and this could present some challenges for Dogecoin investors.  led by Bitcoin’s move toward $16,724, and the Ethereum price also reached record high levels of over $1,231. As a result, many altcoins have seen sharp declines in value in the last 24-hours.

DOGE/USD 1-day price analysis: Bullish pattern continues

The one-day chart for Dogecoin price analysis shows a strong uptrend in the market. The market opened the day trading at a low of $0.08624 and currently trading at a high of $0.08761. The market is on a consistent run for the past few days as it looks to continue its bullish trend in the market. The DOGE/USD has gained over 0.20% over the past 24-hours having a market cap of $11.618 million, and a 24-hour trading volume of $717 million.

Dogecoin price analysis: DOGE set to regain strength to move toward $0.09066
DOGE/USD 1-day price chart Source: TradingView

The MACD indicator shows a bullish crossover as the market looks to continue its uptrend. The RSI indicator is currently trading at 54.35, which indicates that the market is currently in the overbought region. However, the market looks to have some space to move higher as it looks to continue its uptrend. The market volatility is currently high as there is some buying pressure in the market as indicated by the bulging Bollinger bands.

DOGE/USD 4-hour price analysis: Uptrend continues as the market hits $0.08761

The 4-hour Dogecoin price analysis shows that the market is currently trading at a high of $0.08761 and has hit this level twice in the last few hours as it looks to continue its uptrend. The market has made high highs and low lows consistently in the past few hours. The Bollinger bands indicate that there is some consolidation as the market looks to move higher. With the upper band currently at $0.08723, and the lower band at $0.08625.

Dogecoin price analysis: DOGE set to regain strength to move toward $0.09066
DOGE/USD 4-hour price chart Source: TradingView

The MACD indicator shows that there is a bullish crossover in the market and indicates that prices may continue to climb higher moving forward. The RSI indicator reached 48.32, suggesting that the market is overbought and due for a correction.

Doge price analysis conclusion

Dogecoin price analysis shows that the market is in a strong uptrend as it looks to continue its bullish run. The market is expected to continue its uptrend in the near future as the DOGE/USD pair looks to move toward the $0.090 level in the coming days.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Never mind FTX — Fine arts institutions should still onboard to blockchain

The strategic adoption of blockchain technology still makes sense, regardless of the distraction FTX created for cryptocurrency. The reality is that blockchain technology...

NFT Steez and Victor Solomon chat about building in Web3 and the Metaverse

This week NFT Steez spoke to award winning artist Victor Solomon about basketball, the Metaverse, Web3 and his unique NFT collection. On Dec....

South Korean judge dismisses arrest warrants for Terra co-founder Do Kwon’s former associates

Judge Hong Jin-Pyo reportedly said there was little risk of Shin Hyun-seong or other Terra associates destroying evidence related to the case against...

DeFi ecosystem still haunted by FTX contagion: Finance Redefined

Top-100 DeFi tokens saw a bullish wave with the start of the new month, but many DEX platforms are still haunted by FTX...

Most Popular

spot_img