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The bulls in the Dogecoin market are very aggressive and they keep the price pumping due to massive demand. The bullish momentum reached its peak at $0.151 on the 29th of October. By this time, the price of the market has gone far into the overbought and the price pulled back from this point. On the 29th of October, due to the massive selling (that followed the massive buying) among traders the market closed at the price of $0.123.
Dogecoin Market Price Statistic:
- DOGE/USD price now: $0.1469
- DOGE/USD market cap: $18,943,449,898
- DOGE/USD circulating supply: 132.67Billion
- DOGE/USD total supply: 132,670,764,300
- DOGE/USD coin market ranking: #8
Key Levels
- Resistance: $0.150, $0.155,$0.160
- Support: $0.120, $0.125, $0.130
Dogecoin Market Price Analysis: The Indicators’ Point of View
The massive selling of the market continued into the following day which is the 30th of October. Although signs of bullish activities still reflect in the market for the day, the market closed in favour of the bears. The bullish momentum in the Dogecoin market is still very strong, so strong that the price pullback faded out by the 31st of October. And the market resumes its bullish trend. In the RSI indicator, when a market is hyper-bullish, the RSI line continues to go in the overbought zone. After the RSI line of the market reached 91%, it still shows the sign that it is still on the rise. DOGE is targeting the $0.150 resistance price level. This was the point at which the price was rejected on the 29th of October. However, sellers are forming their resistance at this same point. But with continuous bullish pressure, the price of Dogecoin can break the resistance level, just as it broke the $0.123 resistance level.
DOGE/USD 4-Hour Chart Outlook
The RSI line from this point of view has corrected itself from the overbought zone into the bullish zone of the indicator. Although for now, the RSI line has risen above the bullish zone again (that is it is now in the overbought zone), the signal line is still in the bullish zone. With moderate bearish activities, the market can gain balance for more upside performance of the price. But, in the case of complete bullishness, traders should also prepare for an imminent complete bearishness.
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