DOGE/USD spikes to $0.0784 after strong bullish attention – Cryptopolitan

Dogecoin price analysis reveals that the DOGE/USD pair is in a bullish trend as it shows an uptrend formation. The pair is currently trading between the resistance and support levels of $0.07785 and $0.08053, respectively. Technical analysis suggests that if the price breaks out of the current range, it could reach its all-time high of around $0.0850 in a few weeks’ time.  DOGE/USD is currently trading just above the $0.0784 level with a surge of over 0.22 percent. The 24-hour trading volume for Dogecoin stands at $300 million, indicating that the currency is in high demand, while the market capitalization stands at $10.9 billion.

Dogecoin price analysis 1-day chart: DOGE/USD shows bullish strength as prices rise to $0.0784

The 1-day Dogecoin price analysis shows that the market is in an uptrend and has been trending upward since the beginning of today. The volatility of the DOGE/USD pair is rather low, which indicates that the currency will remain stable in the coming weeks. The Bollinger Band Indicator is converging towards the middle zone, which could suggest that the current trend will continue.

The upper band of the Bollinger Band Indicator is currently at $0.0924, and the lower band is at $0.0725, indicating that there could be more upside potential in the near future. The Relative Strength Index (RSI) is currently at a level of 43.29, indicating that the market is neither overbought nor oversold. The 50-EMA and the 20-EMA currently stand at $0.0783 and $0.0797, respectively, which suggests that the path of least resistance is currently to the upside.

DOGE/USD 4-hour price chart: Bulls remain in control

The 4-hour Dogecoin price analysis shows that the market is still in a bullish trend and has been for the past few hours. The prices are trading within the $0.07825 to $0.0784 range and are currently at the resistance level of $0.08053. If the prices break out of this range, they could reach their all-time high and beyond in the near future.

The exponential moving average (EMA) is currently at $0.0786, which indicates that the trend to the upside is likely to continue. The Relative Strength Index (RSI) is currently at a level of 47.26, indicating that there could be more upside potential in the near future. The upper band is currently at $0.0796 and the lower band is at $0.0775, indicating that the upward trend will most likely continue in the short term. 

Dogecoin price analysis conclusion

Overall, the Dogecoin price analysis suggests that the DOGE/USD pair is likely to continue its uptrend as market sentiment turns bullish. The bulls are currently in control of the market, and if the price breaks out of its current range, it could reach its all-time high. The current technical indicators suggest that the upward trend is likely to continue in the short term.