Dogecoin (DOGE) Buyers Have Won the Tussle

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RESULTS

Price action in the Dogecoin market has hit a strong barrier at the $0.1800 mark in the past two sessions. As a result, there was a sharp downward correction, which was halted two sessions ago. Afterward, market forces engaged in a fierce struggle, which was eventually won by upside forces. Let’s take a more critical look at this market.

Dogecoin Statistics:
Current DOGE Value: $0.11638
Dogecoin Market Cap: $23,854,710,951
DOGE Circulating Supply: 143,377,186,384 DOGE
DOGE Total Supply: 143,377,186,384 DOGE
Dogecoin CoinMarketCap Rank: 9

Key Price Levels:
Resistance: $0.1638, $0.1700, and $0.1800
Support: $0.1600, $0.1500, and $0.1400

The Dogecoin Market Resumes Its Uptrend

Price action in the Dogecoin daily market suggests that the market may have resumed its upside trajectory. The downward correction that occurred in the past three sessions seems to have been quickly muscled down by the bulls. Consequently, the market has maintained an upside path for the past two sessions.

Price action has now returned to within the Bollinger Bands. The ongoing session stands above the 38.20 Fibonacci Retracement Level. Likewise, the Moving Average Convergence Divergence (MACD) indicator lines have returned to an upside path. However, at this point, it should be noted that the MACD is still pale green, showing that the momentum is still trying to gain ground.

Dogecoin Prepares to Cross a Key Level

Moving to the DOGEUSDT market of the 4-hour, it is revealed that this market seems consistent. Price action has maintained a general upside path. The ongoing session has crossed a technical level at the $0.1600 mark. Also, it could be seen that the last candle here has also pushed the market above the middle band of the Bollinger Bands indicator.

At the same time, the MACD indicator lines are steadily converging for a bullish crossover above the centerline. Meanwhile, the bars of this indicator continue to decrease in length, further pointing out that downward forces are decreasing in strength. With price action crossing the MA of the Bollinger Bands, the upside momentum will strengthen. Therefore, traders can still use crypto signals that are targeting the $0.1800 mark.

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