DOGEUSD set to break above the intraday highs

TL;DR Breakdown

• Dogecoin price analysis is bullish today.
• DOGE/USD saw a higher local low set yesterday.
• Bullish momentum returned overnight.

Dogecoin price analysis is bullish today. DOGE/USD saw a higher local low set yesterday. Bullish momentum returned overnight, with buyers pushing the price above the $0.0021 resistance. A breakout looks likely, with a move towards the $0.0025 level possible.

Dogecoin price analysis is bullish today as DOGE/USD spiked overnight. The market managed to break above the $0.0021 resistance and eyeing the $0.0025 level. Should bulls maintain control, a breakout looks likely, with a move towards the $0.003 level possible.

Dogecoin price movement in the last 24 hours: Dogecoin reverses

Th daily volatility shows the market reaching a high of 0.00236 before returning to 0.00217. The current price is around 0.00215, still above the Ichimoku cloud and with RSI at 47.

The bullish engulfing candle on the 4-hour chart preceded the move to higher highs and confirmed the presence of buyers. A break above the 0.0021 resistance could lead to more upside shortly.

DOGE/USD 4-hour chart: DOGE rejected for now 

On the 4-hour chart, the market has created a Doji candle, suggesting indecision in the market. If bulls cannot break above the 0.0021 resistance, we could see a move back to the downside. A break below the 0.002 level could take DOGE/USD down to 0.00175.

The Bollinger bands widen, suggesting that the market is becoming more volatile. The 20-day MA is also trending higher and could act as a support level in a selloff.

The MACD indicator shows a bullish divergence, with the MACD line crossing above the signal line. This could be an early indication of a reversal in trend.

Dogecoin price analysis is bullish today as DOGE/USD spiked overnight. The market managed to break above the $0.0021 resistance and is now eyeing the $0.0025 level. Should bulls maintain control, a breakout looks likely, with a move towards the $0.003 level possible.

The bullish engulfing candle on the 4-hour chart preceded the move to higher highs and confirmed the presence of buyers. A break above the 0.0021 resistance could lead to more upside.

After breaking past the $0.20 mark, DOGE/USD found support at an area of resistance formed just above it. The recent rebound from $0.14 previous resistance was short-lived, and DOGE/USD quickly dropped to the $0.135 level.

Since then, the Dogecoin price has fallen even lower. This indicates bearishness, as a lower high was set afterward. Yesterday, though, a higher low was established, suggesting market uncertainty. If more upside is expected later in the month, the Dogecoin price must break higher first.

Dogecoin price analysis: Conclusion 

The Dogecoin price is bearish today, as we saw a solid higher local low set the previous day, prompting another push higher so far. As a result, a greater break may be anticipated in the direction of the $0.154 previous major swing high.

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