Dogecoin value evaluation: DOGE consolidates round $0.142 marker

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TL;DR Breakdown

  • The Dogecoin price analysis is slightly bullish.
  • Next, resistance is found at $0.150.
  • Supportfor DOGE is present at $0.138.

According to the current Dogecoin price analysis, the bulls are striving to make a comeback, and so far, their efforts have been productive as the price covered an upward movement today. As the sellers have been active, a constant downswing had been following the market a week ago. Earlier here have been bullish intervals where the market followed an increasing trend, but the overall lead has been for the bears. But now, the coin is in the consolidation phase, and the bulls are participating again as the price increased up to $0.142 today.

DOGE/USD 1-day price chart: DOGE bulls need more strength for an upwards breakout

The one-day Dogecoin price analysis confirms that chances of recovery are rising for the bulls because of a continuation of the bullish trend. The bears have been dominating the price charts for the past few weeks as more selling activity occurred. But today, resistance from the bullish side was observed as the price increased up to $0.142 height. The price is just a point above its moving average (MA) value which is also near $0.142.

Dogecoin price analysis: DOGE consolidates around $0.142 marker 1
DOGE/USD 1-day price chart. Source: Tradingview

As the price has been undergoing a continuous decline for the past few weeks, the Bollinger Bands average has dropped to $0.151. If we discuss the upper and lower values of the Bollinger Bands Indicator, then its upper end is standing at $0.183, representing the strongest resistance, while its lower back is at $0.120, representing the support. The Relative Strength Index (RSI) score is now 41 after today’s recovery, but the indicator does not show any clear signs due to the consolidation.

Dogecoin price analysis: Recent developments and further technical indications

The four hours Dogecoin price analysis predicts a bearish trend as a slight decline in DOGE/USD market value can be detected. Although the bulls controlled the market trends earlier, the latest development has been in the bearish direction. The price is now settling down at $0.142 as a result of the latest bearish strike. The short-term trending line is still moving ascendingly due to the previous uptrend. At the same time, the moving average value at present is $0.142 above the SMA 50.

Dogecoin price analysis: DOGE consolidates around $0.142 marker 2
DOGE/USD 4-hour price chart. Source: Tradingview

The volatility is on the lower side in the 4-hour chart, which means there is a high probability that an uptrend is coming ahead. The upper end of the Bollinger Bands Indicator is at $0.144, whereas its lower back is at $0.137. The RSI score is now 53, which is quite a neutral figure.

Dogecoin price analysis: Conclusion

The one-day and four hours Dogecoin price analysis is predicting an uptrend for the day as the price followed an increasing movement. Green candlesticks are marking a recovery for the bulls as the price has heightened up to $0.142. We can expect a rise in buying momentum in the upcoming weeks if the current consolidation takes an upwards breakout, with buyers performing persistently.

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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2 Comments

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