Dogecoin price analysis: DOGE continues to reverse, ready for a swift move to $0.075?

Dogecoin price analysis is bullish today as we have seen rejection from the $0.065 support and consolidation around $0.068 over the last hours. Therefore, DOGE/USD is likely ready to continue even higher and push above $0.07 over the next 24 hours.

The market has moved higher over the last 24 hours, with Bitcoin gaining 1.19 percent. Meanwhile, Ethereum gained 2.27 percent, with the rest of the top altcoins moving close by.

Dogecoin price movement in the last 24 hours: Dogecoin fails to move lower

DOGE/USD traded in a range of $0.0673 to $0.06941, indicating slight volatility over the last 24 hours. Trading volume has decreased by 4.4 percent, totaling $335.8 million, while the total market trades at $9.2 billion, ranking the coin in 10th place overall.

DOGE/USD 4-hour chart: DOGE looks to continue higher?

On the 4-hour chart, we can see bullish momentum again, indicating that a push above the local high should soon follow.

Dogecoin price action has traded with strong bearish momentum at the end of the last week after a new swing high was set at $0.09. After several days of rapid decline, new support was found at $0.068.

Consolidation followed over the weekend, with a quick spike lower seen on Monday. However, no further downside was reached, sending DOGE/USD back to consolidate above $0.068.

Since then, the Dogecoin price has started to advance slowly, indicating that the $0.07 mark will soon be reclaimed. Once that is done, DOGE/USD will have a lot of room to rally until the $0.075 resistance. 

Dogecoin price analysis: Conclusion 

Dogecoin price analysis is bullish today as we have seen consolidation continue after another rejection for further downside. Therefore, DOGE/USD is ready to move higher later in the week and look to move towards the $0.075 resistance.

While waiting for Dogecoin to move further, see our articles on how to buy Litecoin, Filecoin, and Polkadot.