Dogecoin price analysis: DOGE rises to $0.07343 as bulls take over the market

Dogecoin price analysis is showing an uptrend at the moment, with the cryptocurrency surging to $0.07343. The Bullish pressure over the last 24 hours has been increasing as the demand for Dogecoin is growing. The support level for the digital asset is present at around $0.07007, which was recently tested. On the other hand, the resistance level of DOGE/USD is present at around $0.07579. If the bulls continue to hold on to their momentum and push the price higher, Dogecoin could break its high of $0.08793 very soon.

The cryptocurrency market is in the green zone, and most coins are gaining. Bitcoin increased by 6.26%, Ethereum gained 3.14%, and Dogecoin rose by almost 3.70%. In addition to this, Dogecoin is performing better than other major cryptocurrencies, as it has surged by 3.70% in the last 24 hours.

Dogecoin price analysis 1-day chart: DOGE/USD value recovers up to $0.07343

On the 1-day chart, Dogecoin has formed a bullish pattern by forming higher highs and higher lows. The price has moved up to the $0.07343 level today, which is encouraging for the buyers as the coin price is going up. On the other hand, the past week was highly unfavorable for them as the market was bearish. However, the buyers took over, and DOGE surged up again. The moving average (MA) value is standing on the $0.0704 mark, below the current price, as the dominating trend for today has been bullish.

The Bollinger bands are expanding upwards, which shows that the bulls are getting more control over the market. The upper Bollinger band is seen at the $0.0842 level, which may act as a resistance for Dogecoin if it rises further up. On the other hand, the lower Bollinger band is standing at $0.0644, below which lies support that could be tested in case of a bearish trend. The RSI is on an upward trajectory, indicating that the buyers have taken control of the momentum and pushing it higher.

Dogecoin price analysis 4-hour chart: Recent developments and further indications

The bulls have taken advantage of the situation as the price increased once again in the last couple of hours. The 4-hour Dogecoin price analysis shows signs of bullish activity resuming back as the price levels increased to $0.07343. The moving average value, on the other side, is trading below the price level, which is present at $0.0727 because of the uptrend that has been observed during the last few days.

The volatility has been slightly high during the past four hours, which is why the Bollinger bands average is now at $0.0729. The upper Bollinger band value, on the other hand, is now $0.0776 while the lower value is $0.0682; the price is trading between the upper band and the mean average of the indicator. The RSI has moved back up above the 50 mark, indicating that the bulls have taken control of the momentum and pushing it higher.

Dogecoin price analysis conclusion

To conclude, the Dogecoin price analysis reveals that the price has increased due to the bullish up move of today. The price has been uplifted in the last 24 hours, which means that there is a strict chance of the bulls continuing their lead in the future. The cryptocurrency price is now at $0.07343, which is a comparatively stable position. We expect the cryptocurrency to continue moving upward today.