Dogecoin (DOGE) Price Nears the $0.1000 Resistance Mark

Dogecoin now trades in price regions above the $0.0900 mark. This occurred as a result of sustained bullish pressure in the market. With buyers expecting prices to punch their way through the $0.1000 mark, there has been a significant boost. Let’s examine the chances of this happening.

DOGE Statistics:
Current Dogecoin Value: $0.09771
Dogecoin Market Cap: $13,845,899,261
DOGE Circulating Supply: 143,247,896,384
Dogecoin Total Supply: Infinity
DOGE CoinMarketCap Rank: 10

Key Price Levels:
Resistance: $0.09771, $0.09800, and $0.09950
Support: $0.09700, $0.09600, and $0.09500

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Price action in the DOGE market has witnessed sustained tailwind effects. This has assisted its price action in climbing its way upwards through multiple resistances within two trading sessions. It is worth noting that today’s session has single-handedly produced the most significant gains in about a month.

Buyers are still holding onto most of the printed gains in today’s session, as the corresponding price candle has a short upper shadow above it. Meanwhile, trading activities continue to occur outside the Bollinger Bands. Simultaneously, the Stochastic Relative Strength Index (RSI) lines have maintained a smooth but rapid upside traction. Yet, considering the behavior of the RSI lines, it appears upside forces are consistent with bullish progress in this market.

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DOGE Bulls Are Dominant

Coming to the Dogecoin 4-hour market, the nature of the seen price increase has been clearly revealed. It could be seen that buyers have been able to maintain dominance. Buying pressure was prevalent, which introduced sustained bullish momentum in this market. Furthermore, in the ongoing session, trading activities continue outside the uppermost limit of the Bollinger Bands.

Meanwhile, the RSI indicator lines are now flat out in the overbought region. This can be seen as the indicator lines continue to drag sideways at the 100 level of the indicator. As a result, two things can occur here: short-term traders can see this as a terminal level and begin to take profits. This will eventually create a headwind in the market. Consequently, traders may begin to bearish crypto signals in this market, as prices may retreat towards the $0.09000 mark.

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