Dogecoin price analysis: DOGE spikes high as bullish momentum inflates to $0.0889

Dogecoin price analysis for today shows that the coin is trading in a positive trend and is expected to continue this trend throughout the day. The market has been steadily increasing since yesterday and its current price is at $0.0889, up from its opening price of $0.08697.

Dogecoin’s bullish momentum has driven it to new heights today, and the coin is expected to continue its current trend. The buying pressure is strong, and the coin is expected to hit a new all-time high in the near future.

However, there are some signs of bearish pressure that could cause Dogecoin’s price to drop slightly. The bears may be waiting for an opportunity to capitalize on the current trend and push the coin down. As always, traders should keep a close eye on the market and be prepared to adjust their strategy in response to any changes.

Dogecoin price analysis 1-day price chart: Bullish momentum is still intact

The 1-day price chart for Dogecoin price analysis shows a strong uptrend in the market as buyers continue to fuel the bullish momentum. The buyers are in control of the market and if they maintain the current momentum, then we could see a surge in DOGE price towards the upcoming resistance levels. On the other hand, if the bears gain more control over the market, then we could see a correction in the DOGE price and a possible drop in the support levels.

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DOGE/USD 1-day price chart. Source: TradingView

The moving average (MA) value is currently set at 0.0855 which is a strong indication that the buyers are in control of the market. As the area between the Bollinger bands is widening, it is a clear indication that the market volatility is increasing and traders should be careful while trading in the near future. The upper Bollinger band is currently placed at 0.0980, while the lower Bollinger band is currently placed at 0.0786. The relative strength index (RSI) is trading at an upward slope at index 53.88, hinting at the buying activity in the market.

Dogecoin price analysis: Upside momentum gathers pace

The four-hour Dogecoin price analysis supports the buyers as the price experienced a good increase in price in the first four hours of today’s trading session. This is because the bulls have made a comeback and are striving hard to win back their lead. At the time of writing, the DOGE/USD has gained 0.75% and is trading at 0.0889, up from its opening price of 0.08697.

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DOGE/USD 4-hour price chart. Source: TradingView

Looking at the hourly technical indicators, the upper Bollinger band is currently placed at 0.0899, while the lower Bollinger band is currently placed at 0.0856, indicating that the bullish trend is likely to continue in the near future. The Relative Strength Index (RSI) graph shows a bullish curve as the score just rose to 60.59, indicating that the buying activity is increasing. The Moving average is currently at 0.0881 on the chart.

Dogecoin price analysis conclusion

To sum up, DOGE/USD pair is currently in a bullish trend and could go higher if the buyers maintain their current momentum. The bulls are currently controlling the market, and we could see a break out of the current resistance level at $0.0889 in the upcoming trading session. The technical indicators are also backing the bulls and traders can look at the upcoming resistance levels to capitalize on this trend.