Monday, June 5, 2023
HomeLitecoinDOGE obtains bullish momentum at $0.0770 – Cryptopolitan

DOGE obtains bullish momentum at $0.0770 – Cryptopolitan

Dogecoin price analysis for March 22, 2023, reveals that the meme-based cryptocurrency has been experiencing an upward trend over the last 48 hours. During this period, its price increased from 0.0706 to $0.0778 on March 21, 2023. Today, Dogecoin has shown even more positive momentum and has significantly increased in value. Currently, the cryptocurrency is continuing its bullish movement and is valued at $0.0770 at the time of writing.

The current price of Dogecoin is $0.0770, with a 24-hour trading volume of $1.64 billion and a market capitalization of $10.25 billion, representing a market dominance of 0.86%. Over the past 24 hours, the price of DOGE has increased by 3.87%. The all-time high for Dogecoin was achieved on May 8, 2021, when it reached $0.738595. Conversely, the all-time low for Dogecoin was recorded on May 7, 2015, when it traded at $0.00008547.

Since the all-time high, the lowest price that Dogecoin has reached was $0.049701, while the highest price since the last cycle low was $0.156883. Currently, the sentiment for Dogecoin’s price prediction is neutral, while the Fear & Greed Index is showing 62 (Greed).

The circulating supply of Dogecoin is currently at 132.67 billion DOGE, which is also the maximum supply. In terms of market capitalization, Dogecoin is ranked #3 in the Proof-of-Work Coins sector, #1 in the Meme Coins sector, and #6 in the Layer 1 sector.

DOGE/USD 1-day price analysis: Recent developments

Dogecoin price analysis seems to show the market following a positive movement, with the market’s volatility entering a closing movement, consequently tightening the market. The stability of the cryptocurrency’s price reduces the likelihood of experiencing extreme fluctuations. At present, the highest price of the DOGE cryptocurrency is $0.0774, while the open price stands at $0.0753. In contrast, the lowest price of DOGE is currently at $0.0753, with a 2.09% change and a close price of $0.0769.

Currently, the DOGE/USD is showing a bullish movement as it has crossed over the Moving Average curve. However, there is a potential for a reversal in trend as the price is moving upwards towards the resistance band. This increase in volatility could favor the bulls, potentially prolonging a breakout and providing more opportunities for bullish activity.

image 455
DOGE/USD 1-day price chart Source: CoinCodex

Dogecoin price analysis reveals the Relative Strength Index (RSI) to be 52, indicating a stable DOGE number falling in the central neutral region. Furthermore, the RSI score is showing a linear movement, suggesting that there is a stable market with equivalent buying and selling activities. The market indicates a positive trend.

Dogecoin price analysis for 7-days

Dogecoin price analysis shows the market to be following a downward movement, with its volatility decreasing. In addition, the market appears to be undergoing a closing movement, indicating future dormant dynamics. The current state of the DOGE price is showing greater susceptibility to extreme fluctuations. At present, the highest price for DOGE is $0.0774, with an open price of $0.0760. On the other hand, the lowest price for DOGE is $0.0747, representing a change of 1.84% and a close price of $0.0773.

The current movement of Dogecoin suggests a bullish trend, as the DOGE/USD price has crossed over the Moving Average curve. However, there is an upward movement indicating a growing market for the meme cryptocurrency. The price is aiming to reach the resistance band, and if it succeeds, it could break and reverse the current market dynamics.

image 456
DOGE/USD 7-day price chart Source: CoinCodex

The meme cryptocurrency Dogecoin is currently in a stable state with a Relative Strength Index (RSI) score of 47. This indicates that the market is stable after experiencing an upward movement. The increase in the RSI score reflects the dominant buying activities and suggests a potential for further upward movement.

Dogecoin Price Analysis Conclusion

Dogecoin price analysis reveals the cryptocurrency following an increasing movement, showing potential towards the positive extreme. Despite the current state of the market, there is significant potential for a reversal in the coming days as the price of Dogecoin moves toward the resistance level. This presents an opportunity for the bulls to take control of the market and drive the price of Dogecoin up beyond expectations.

Source link


Most Popular

Recent Comments