Dogecoin (DOGE) Shows Bullish Strength As Price Rises to $0.07023
CoinEdition
Published Jan 02, 2023 09:15AM ET
Updated Jan 02, 2023 09:30AM ET
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 ...
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