The Dogecoin price analysis is bullish for the day as the price has increased to $0.09276 in the last 24 hours. The bulls have managed to maintain their momentum in a steady manner and have made further recovery during the last few days.
Today the market for DOGE/USD opened trading in bullish territory, and the price action has been upward since then. At the moment, DOGE/USD is trading at $0.09276 and the bulls are aiming for a breakout above the resistance level of $0.09449 which could open up further upside potential for the cryptocurrency.
Dogecoin price analysis 1-day chart: Bulls continue to dominate as DOGE/USD rises
The one-day Dogecoin price analysis is going in the bullish direction again after a successive uptrend. The price has increased up to $0.09276 today which can be considered a huge accomplishment for the cryptocurrency as it has gained a value of 1.68 percent during the last 24 hours. Further advancement is to be expected as the bullish momentum is strengthening with each passing day. Other important indicators include the moving average (MA) which is settled at the $0.0881 position for the day.
The volatility has also increased for the day, as the Bollinger bands are widening. The upper Band is now at $0.0976 while the lower band is at the support level of $0.0745. A break above the resistance level could result in further gains for the DOGE/USD pair with a potential upside target of up to $0.10 which is an important psychological hurdle for the bulls to cross in order to continue their bullish trend. The RSI (Relative Strength Index) is currently at 63.62 which indicates that the bulls are in full control and have a strong hold on the market.
Dogecoin price analysis 4-hour chart: Recent updates
The 4-hour Dogecoin price analysis shows bears have been outpowered by bulls, and the price level has been increasing steadily over the last few hours. The market has been trading in a tight range of $0.0910 to $0.0930 and the bulls are aiming for a break above the resistance level of $0.09449, with the green candles forming over the last few hours.
The volatility is increasing sharply on the 4-hour chart as the Bollinger bands are expanding at a high pace, indicating that the market is about to witness a breakout on either side. The upper Bollinger band is at $0.0943 while the lower one is placed at $0.0875 which coincides with the support level of the DOGE/USD pair. The relative strength Index (RSI) is currently at 57.64 which indicates that the bulls have a strong grip on the market and are in full control.
Dogecoin price analysis conclusion
The overall Dogecoin price analysis points to an upward trend as investors look for further gains from DOGE/USD pair in the near future. The bullish sentiment might continue if the bulls manage to break above the resistance level of $0.09449 and target the psychological barrier of $0.0.095. The support level of $0.09009 must be held if DOGE/USD is expected to maintain its bullish trend in the coming days.
Source: https://www.cryptopolitan.com/dogecoin-price-analysis-2023-04-18/