Price Analysis

Dogecoin (DOGE) Exhibits a Bullish Crossover as It Rebounds from Intraday Low

  • Dogecoin, at the time of penning down this analysis, was trading at 0.002506 against the US Dollar and is notably drawing an intraday uptrend which has for sure welcomed bullish crossover
  • In the give 7-day timeframe, DOGE price was seen accumulating until above 61.80% Fib, and with a current swing high it has gathered traction from an intraday low of $0.00234, the lowest recorded yesterday
  • Yet, before this accumulation, we saw a fine uptrend which marked a weekly high at $0.002710
  • Additionally, the coin retains slight support from 200-day MA, while fails to retain 50-day MA
  • The intraday momentum is hitting above the 20-day upper Bollinger Band

Dogecoin Price Analysis

Dogecoin News
DOGE/USD Chart By TradingView

On the hourly chart, Dogecoin is drawing a fine uptrend against the US Dollar and yet confirms the same as the candlestick breaches above the upper 20-day Bollinger Band. The coin regained 200-day MA support on the hourly chart after it gained the traction from the intraday low marked at $0.002234, yesterday. The price accumulation took a halt as the price dipped below 61.80% Fib Retracement level just to gain the right momentum, today.

The technicals confirm the bullish crossover as the MACD line crosses above the signal line since the price Dogecoin rebounded from the intraday low around $0.00223. The RSI of the coin is at 58.97 and is seen inclining towards the overbought region around 70.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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