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.
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.
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.
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Source: https://www.cryptopolitan.com/dogecoin-price-analysis-2022-11-16/