Dogecoin price analysis: Bulls keep the pattern up as the price approaches $0.0839

The most recent Dogecoin price analysis reveals a bullish pattern, with prices moving upward after yesterday’s surge high over the past 24 hours. In the last three days, the market has been moving in a positive direction, and the price has significantly increased. The bulls took control of the market today, pushing the DOGE/USD value up to $0.0839 end, continuing a similar pattern that was seen yesterday.

DOGE/USD 1-day price chart: As prices increase to $0.0839, a bullish rebound is imminent.

The bulls have been in charge of the price chart even today, and the one-day Dogecoin price analysis is verifying an upward trend for the cryptocurrency pair. The purchasers have greatly benefited over the last week. The price has grown up to the $0.0839 level in the last 24 hours, gaining 8.20 percent in value, demonstrating once again that today’s trend is supportive. The moving average (MA) number has also been trading at $0.0765 during this time.

Future patterns are being predicted by the rising volatility, and it is possible that we will see more uptrends in the future. The upper value of the Bollinger Bands is currently $0.0816, which previously represented the greatest resistance for DOGE, while its lower value is $0.0689, which represents the strongest support. Due to the ongoing buying tendency, the Relative Strength Index (RSI) score increased to index 62.

Dogecoin price analysis: Recent developments and further technical indications

The price of Dogecoin has been rising strongly today, according to the 4-hour price chart for Dogecoin price analysis, but selling pressure is also forming. For the first eight hours of the trading session, the purchasing pressure grew stronger, and for a brief period, the price even spiked up to $0.0856. This has now resulted in selling pressure building up. As the price is retracing downward, the sellers are now back in the market. Even though the price has dropped to $0.0839, it is still above the moving average, which is currently resting at $0.0805.

The upper and lower Bollinger bands numbers are $0.0836 and $0.0704, respectively, if we talk about them. After briefly spiking above the top limit of the Bollinger bands, the price has now settled back inside their boundaries. The score has dropped to index 74 on the 4-hour chart as the RSI curve is moving lower. DOGE is still viewed as overvalued by RSI, though.

Dogecoin price analysis conclusion

The study of the Dogecoin price over the past day and four hours reveals a significant increase in price. After three days of continuous price upgrades, the price has now risen to $0.0838. After briefly correcting, we anticipate DOGE to move higher later today.