The coin has surged higher after getting off to a solid start, according to the most recent Dogecoin price analysis, suggesting a strong positive trend for today. The last few hours have seen a significant increase in coin value, and the bullish momentum has made DOGE one of the top gainers in today’s market. The recent bullish trend has caused the price to stabilize at $0.092. The environment is favorable to buyers, and if the purchasing momentum picks up, the current bullish wave is likely to continue to intensify.
DOGE/USD 1-day price chart: Bullish momentum revives again
A strong bullish trend for the day is confirmed by the one-day Dogecoin price analysis. Since the previous 20 hours, the bulls have been in charge of the market as the price has broken above the $0.088 local resistance. More gains for Dogecoin buyers appear to be imminent as the price has just surpassed the $0.092 high, increasing in value by more than 7.12%. The purchasers continue to make efforts, therefore it appears that there are more opportunities for resurrection. Additionally, the moving average (MA) number on the daily price chart is $0.087.
The price increase may cause the Bollinger bands to begin diverging, although they are now unchanged. The lower Bollinger band shows a value of $0.075 and is the strongest support, while the upper Bollinger band reveals a value of $0.092 and the price has risen above this level. The current value of the Bollinger Bands average is $0.084. The Relative Strength Index (RSI) score has just risen to index 66 as a result of the recent price increase, and if the uptrend continues, it might approach the overbought zone.
Dogecoin price analysis: Recent developments and further technical indications
Because the coin has risen to $0.093, the hourly Dogecoin price analysis is also in their favor. The majority of the increase was seen during the past four hours as bulls gathered tremendous momentum, making DOGE one of the top gainer among the top 100 cryptocurrencies. The bullish momentum had previously been modest, so this is good news for buyers. A further point to consider is the moving average value, which is $0.087 in the case of the four-hour price chart.
Yesterday, a crossing between the SMA 20 and SMA 50 curves was also noticed. The 4-hour chart now shows expanded Bollinger bands. The Bollinger bands indicator’s upper value has shifted towards $0.092, while its lower value remains at $0.082, and the indicator is continuing diverging. Price has risen above the Bollinger bands indicator’s upper bound. Due to the bullish wave and the strong buying momentum, the RSI score has also increased significantly and is currently at index 73 in the overbought region.
Dogecoin price analysis conclusion
Given Dogecoin price analysis over the past day and the previous four hours, a resoundingly strong positive trend is predicted for the day as the coin value increased to $0.092. At the start of the day, the bulls were already in the lead, but they are currently gaining ground. On the other hand, the hourly price chart reveals a significant price increase over the previous four hours, thus we predict that the price may correct slightly over the next few hours before rising much higher.
