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Dogecoin price movement appears to be under the control of buyers. Also, technical indicators at the same time are pointing to further upside movement in price action. Will this form continue? To determine this there is a need to further examine this market, so let’s dive in.
Dogecoins Forecast Statistics Data:
DOGE’s current price: is $0.0619
Dogecoins market cap: $8.43 billion
DOGEs circulating supply: 132.67 billion
Dogecoins total supply: 132.67 billion
DOGEs Coinmarketcap ranking: #10
Important Value Marks:
Resistance: $0.0619, $0.0649, $0.0680
Support: $0.0600, $0.0570, $0.0540
Bulls Are Pushing Price to the Upside in Dogecoin’s, Tamadoge Purchase Frenzy Continues
Looking at the DOGE/USD 1-day chart we can notice how strong the bulls are in this market. The last green candle on this market consecutively and significantly ramps up price action. Also, the curve of the RSI indicator as well are showing how lively buyers are in this market. The leading line of this Stochastic RSI is indicating that at this point price action may have gained a significant amount of momentum. Consequently, more Upside moves may likely be witnessed. Additionally, the last bullish candle on this chart has placed a price above the faster EMA line. Should the next candle on this chart form in favor of the bulls, Dogecoin’s price may even witness higher resistance. As it stands, Traders can expect the price to at least reach around $0.0650 soonest.
Dogecoin Price Analysis: Doge Sure to See the Upside
DOGE/USD 4 hours chart throws more light on the possibility of further value gain. Studying the EMA lines we can see that both the 9 and 21 days EMA have passed under price action. This further brightens the hope of value rising towards higher resistance.
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Adding to this, the Stochastic RSI has reached the overbought region. Subsequently, the most recent bearish candle has caused a moderate downside correction in the direction of the RSI. However, since the buyer has recently gained control of the price these Indicator curves are now predicting that the price of Dogecoin may rise further. At this point, the aforesaid price level is very likely to be reached.
Tamadoge has also been highlighted by Bitcoinist, BeInCrypto, NewsBTC, and crypto influencers across social media. Jacob Crypto Bury above notes that a Tamadoge purchase equivalent to 55.8 ETH was recorded on Etherscan on Sunday.
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