Dogecoin
DOGE Price Analysis: Dogecoin bulls proving to be relentless in their pursuit
DOGE/USD is currently priced at $0.07 and has increased by 18.96% over the past day
•The trading volumes have increased by 192.37% over the past day
•The technical indicators suggest a positive outlook for the near term
Short Term View: Will the uptrend last any longer for DOGE?
The Dogecoin price today is $0.078847 USD with a 24-hour trading volume of $1,957,336,977 USD. Dogecoin is up 18.96% in the last 24 hours. The trading volumes have increased manifolds over the past day whereas the Volume to Market Cap Ratio stands at 0.1871 for the altcoin.
This week has been of great boom for Dogecoin as the asset has climbed up remarkably over the past few days. The jump in the asset can be witnessed by the DOGE Price currently transacting above the 20,50 SMA on the four hour chart. Moreover, the presence of the golden cross on the chart further provides impetus to the bullish rally. If the uptrend lasts longer, we could see the altcoin climb even greater heights and potentially breach the resistance level placed at $0.090 in the coming days. On the flip side the support for the altcoin is placed at $0.070 in the event of the market taking a bearish turn of events.
Long Term View for DOGE
The RSI for Dogecoin is currently transacting deep into the overbought territory and is currently placed at 81.21. This however, presents possibilities for the DOGE bears to stage a comeback in the coming days. The green histograms, on the other hand, have been increasing in size at a rapid pace over the past few days, and the move has left the bears scampering for cover. Moreover, the MACD and signal lines have also ventured into the positive territory which bodes well for the future prospects of the coin.
Conclusion
The technical indicators for Dogecoin suggest the continuation of the bullish activity that has been witnessed in recent days. Hence we can expect the altcoin to continue moving ahead with purpose in the days ahead.
Support: $0.070
Resistance: $0.090
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
