Dogecoin price analysis: DOGE increases its value to $0.0628 after a strong bullish movement

Dogecoin’s price analysis for September 3, 2022 shows the meme cryptocurrency after a positive movement in the past 48 hours. The price increased from $ 0.0608 to $ 0.0641 on September 2, 2021. Dogecoin gained a positive move the next day and significantly increased its value. The cryptocurrency continues a bullish move today and is trading at $ 0.0628 as of this writing.

Dogecoin is up 0.85% in the past 24 hours with a trading volume of $ 317,332,688 and a real market cap of $ 8,301,461,083, and DOGE currently ranks 10th. However, the cryptocurrency shows the potential for a reversal as recent price analysis indicates that the cost of DOGE is moving towards resistance.

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DOGE / USD Price analysis in 4 hours: recent developments

Dogecoin’s price analysis appears to show that the market follows a positive move, with market volatility entering a squeeze, closing the market as a result. This makes the price of the cryptocurrency less prone to volatile changes on both extremes. As a result, the upper limit of the Bollinger band is present at $ 0.0630, representing the strongest resistance for DOGE. Conversely, the lower boundary of the Bollinger Band is present at $ 0.0605, representing the strongest support for the meme cryptocurrency.

The DOGE / USD appears to cross the moving average curve, indicating a bullish move. The price appears to be moving up towards the resistance, attempting to break it. When volatility is about to close, this could be in the bulls’ favor, as a breakout would explode volatility providing more room for the bulls for further activity.

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DOGE / USD 4 Hour Price Chart Source: TradingView

The Relative Strength Index (RSI) is present at 53, indicating a stable value for DOGE, down in the central neutral region. Additionally, the RSI score appears to move in a linear fashion, indicating a consistent market and equivalence of buying and selling activities.

Dogecoin price analysis for 24 hours

Dogecoin’s price analysis shows that the market is following a downward movement, with its volatility increasing. Furthermore, the market appears to be undergoing an opening movement, which indicates future volatility bursts. This makes the DOGE price more prone to fluctuation on both extremes. The upper boundary of the Bollinger band exists at $ 0.0816, representing the strongest resistance on DOGE. Conversely, the lower boundary of the Bollinger band is $ 0.0546, which is the strongest support for DOGE.

Dogecoin appears to be following a bullish move, with the DOGE / USD price crossing the moving average curve. The downward movement indicates a skewed market for the meme cryptocurrency. The price tries to meet resistance in a day or two. If they meet, the market breaks down and reverses the dynamics of the market.

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DOGE / USD 1 Day Price Chart Source: TradingView

The Relative Strength Index (RSI) score is 42, signifying the stability of the cryptocurrency. Dogecoin falls into the lower neutral region after a slight upward movement. The increase in the RSI score represents the dominance of buying activity and the move towards stability.

Conclusion on Dogecoin’s price analysis

Dogecoin’s price analysis reveals the cryptocurrency following a bullish movement, showing further bullish potential. However, the market shows colossal potential for reversal in the coming days. If the bulls can use this to their advantage, they could engulf the market and help raise Dogecoin’s price beyond expectations.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com assumes no responsibility for any investments made based on the information provided on this page. We strongly recommend independent research and / or consultation with a qualified professional before making any investment decisions.

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