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- The Dogecoin price trend noted bullish indications in a lower-time frame.
- The market cap recorded above $8.79 Billion along with 7.3% gain in the last 24 hours.
- Trading volume spiked over the night by 200% at $1.02 Billion.
World famous meme Coin-Doge shows little positive after weekly selloff. At the time of writing, it is trading at the $0.0658 mark against the USDT pair. Dogecoin has a market dominance of 0.92% and has also contributed to the overall cryptocurrency market cap, then the global market cap is down 0.97% to $941.75 billion according to CMC.
Doge on 4 Hour Chart
On a 4 hour price scale, DOGE crypto reflected the bullish breakout in intraday trading session as crypto price breached bearish trendline today. This short-term bullish move is indicating a higher move till the next round level of $0.070. At this immediate resistance level bulls need to gather more coins to maintain an uptrend.
Dogecoin Price Analysis on Daily Chart
Amid price rise, buyers finally managed the DOGE crypto price above the 20-day exponential moving average over daily price chart. This early bullish sign helped bulls to hold altcoin above 50-EMA (red) in intraday trading sessions. The 100-EMA is the next approach of bulls.
Due to higher-lows trend, the market cap of Dogecoin recorded above $8.79 Billion along with 7.3% gain in the last 24 hours. More upside is likely ahead because the 20-EMA has turned into an immediate price rebound zone. Thus, Trading volume spiked over the night by 200% at $1.02 Billion.
On the daily price scale, the RSI indicator displayed a bullish bias for the DOGE coin. Now the RSI is targeting the semi-line side to reach the overbought zone as peak support. Besides, the MACD is showing a bullish crossover in the negative zone. Both traditional indicators point to positives for Dogecoin.
Conclusion
Dogecoin appears to be in a bullish mood after a breakout of the bearish trend line. Moreover, the price moved above the 20 and 50-day exponential moving averages in the morning intraday session, hence the bulls are likely to push the price towards the $0.070 level as a first approach.
Support level – $0.055 and $0.040
Resistance level – $0.090 and $0.10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
