- Dogecoin price analysis is bullish today.
- DOGE/USD set higher low at $0.26.
- Dogecoin to move to $0.28 next.
Dogecoin price analysis is bullish today as a retracement has et new high low at $0.26, with bullish momentum slowly returning over the last 24 hours. Therefore, we expect DOGE/USD to continue higher later today and move to test further upside.
Dogecoin price movement in the last 24 hours: Dogecoin starts to push higher after consolidating above $0.26
DOGE/USD traded in a range of $0.2602 – $0.2743, indicating strong volatility over the last 24 hours. Trading volume has declined by 58.92 percent and totals $2.611 billion, while the total market cap trades around $35.5 billion, ranking the coin in 9th place overall.
DOGE/USD 4-hour chart: DOGE prepares to breach $0.28?
On the 4-hour chart, we can see bullish momentum returning for the Dogecoin price action, indicating we can expect further upside today.
Dogecoin price action has seen bullish momentum return over the past weeks after a strong retracement during the second week of October. After peaking at $0.27 on the 6th of October, DOGE/USD retraced to $0.215, establishing a clear higher high.
What followed was a several-week rally with high volatility both ways. The previous high at $0.27 was retested briefly on the 18th of October in a very volatile move. From there, DOGE/USD retraced and set another higher low around $0.24.
On Sunday, the Dogecoin price action saw a strong upsurge again, leading to a $0.28 higher-high set. Since then, DOGE/USD has retraced and set a higher low at $0.26 as bulls prepare for further upside.
Dogecoin Price Analysis: Conclusion
Dogecoin price analysis is bullish as a retracement set a higher low at $0.26 previous resistance after a higher high was set at $0.28. Therefore, we expect DOGE/USD to continue higher over the next 24 hours, with the $0.28 mark as the target to break.
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