Dogecoin Price Analysis: DOGE/USD pair bullish for the next 24 hours

Time Stamp: March 18, 2022 4:58 AM
Source Node: 1220502

TL;DR Breakdown

  • Dogecoin price analysis appears to be bullish.
  • The strongest resistance is present at $0.1352.
  • The strongest support is present at $0.1104.

The Dogecoin price analysis shows that the market has entered a bullish trend, with considerable potential for additional price gains. The cost of Dogecoin on March 16, 2022, was $0.1171, and its value rose even further over time. The strongest resistance is presently located at $0.1352, but if the market sentiment remains bullish, it is likely that this price point will be breached in the near future. The support level at $0.1104 may also come into play if the market undergoes a reversal. Overall, Dogecoin appears to be a promising investment opportunity in the current climate.

DOGE/USD 4-hour price analysis: Recent updates

The Dogecoin price has increased by over 14% in the last 24 hours, and it is currently trading at $0.1277.

On the 4-hour chart, we can see that the DOGE price has formed a descending channel. The price has recently broken out of this channel, which is a bullish sign.

Dogecoin price analysis: DOGE spikes at $0.1171 1DOGE/USD 4-hour price chart source: TradingView

The RSI is currently at 61, placing the assets in the overvaluation zone. Furthermore, the RSI appears to be trending up, suggesting that the market is becoming increasingly volatile.

Dogecoin Price Analysis for 1-day: DOGE moves upwards

The Dogecoin price analysis shows a slightly increasing trend in market volatility, with the resistance and support bands moving in opposite directions. As a result, the cryptocurrency named after a meme will continue to be volatile. The upper limit of the Bollinger band is at $0.1352, which is where DOGE’s price is expected to bounce off from. The lower limit is at $0.1104 and is expected to act as a support in case the price falls.

Dogecoin price analysis: DOGE spikes at $0.1171 2DOGE/USD 1-day price chart source: TradingView

The daily volatility for DOGE is currently at 2.45%, which is relatively high compared to other cryptos. The ATR for the cryptocurrency is also quite high at 0.0254. This suggests that DOGE is likely to experience some wild swings in the near future.

Dogecoin Price Analysis Conclusion

To sum it up, the Dogecoin price analysis shows that the market is becoming more volatile with time. The cryptocurrency has good potential for price gains in the near future. However, investors should be cautious and keep an eye on the RSI and MACD as they could indicate a pullback in price.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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