Dogecoin (DOGE) Shows Bullish Strength As Price Rises to $0.07023

• Dogecoin price analysis is bullish today, with the token increasing by 1.01 percent.
• The Dogecoin price movement is currently in an ascending triangle formation.
• Dogecoin trades at $0.07023 at the time of writing.

Dogecoin price analysis shows that the market has entered a full bullish trend, with prices rising steadily over the past few days. A closer look at technical indicators reveals that the coin is in an uptrend and is likely to continue rising as more investors take notice. However, the Dogecoin price has increased by 1.01% and is now trading above the $0.07023 level.

Furthermore, market sentiment surrounding Dogecoin is also positive, with many investors expecting the asset to continue its rise. Resistance for the DOGE/USD pair is seen at the $0.07069 level, while support is present at $0.06929, respectively. In the short term, traders can expect the Dogecoin price to remain in an uptrend and could even test the $0.072 mark if conditions are favorable.

On the technical side of things, Dogecoin’s daily chart is showing a strong uptrend, with prices above the 50-day moving average. The Relative Strength Index (RSI) is currently trading at 36.77, signaling that the digital asset is in an overbought zone. Furthermore, the moving average convergence and divergence (MACD) line has crossed above the signal line and is showing a bullish crossover, indicating that buyers have the upper hand in the market. Additionally, Dogecoin’s 50-day moving average is also trending higher, further confirming its bullish trend.

Looking at the hourly Dogecoin price analysis confirms that the market is in an uptrend and buyers are likely to push the price higher. The trading volume for the DOGE/USD pair is currently at $256 million, suggesting that the asset is seeing strong buying pressure.

Additionally, the market capitalization is seen at $9.5 billion, indicating that the asset is gaining more traction among investors. The market volatility on a 4-hour price chart indicates that the Bollinger Band is widening, suggesting that the coin could experience a significant price surge in the near future. The Bollinger band’s upper band, or $0.0714, represents the DOGE price’s greatest resistance. The Bollinger’s band’s bottom boundary, which represents DOGE’s strongest support, is at $0.0674.

Overall, Dogecoin appears to be in a strong bullish trend, and the price is expected to go higher. The asset is seeing strong buying pressure from investors, and the technical indicators are also signaling a further rise in price. As such, traders should keep an eye on Dogecoin’s price action and look for buying opportunities whenever the asset dips.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.