The latest price analysis for the first meme cryptocurrency indicates a bullish market movement with room for possible bullish activity in the coming days.
In the meantime, the DOGE/USD value of Dogecoin has previously experienced a huge declining trend that culminated in the price of the canine digital currency crashing down to $0.1175 as of March 20 but immediately rebounded to start the day in a positive upward trend.
The price analysis of Dogecoin for March 21 shows the DOGE price rising to $0.1203. The past 24 hours have seen the value of Dogecoin decrease by 1.95%, with the volume of trade standing at $435,729,760.
The popular meme cryptocurrency is trading at $0.1203 and still maintains its position as the 13th largest crypto with a market capitalization of $15,947,182,053 as at press time.
DOGE/USD Latest Price Analysis
The market review for Dogecoin shows market volatility after the opening trading session. Accompanied by price volatility is an increased movement that points to the possibility of the cryptocurrency undergoing another volatile trend.
Due to this, the DOGE/USD is rapidly becoming an easy target for change at both higher and lower extremes. The upper zone of the Bollinger Band is $0.1251, which is the strongest resistance zone for DOGE.
Likewise, the lower level of the band is set at $0.1141, which indicates the strongest support zone for the meme token to use in the price movement trend.
The moving average curve shows the DOGE/USD crossing under, pointing to possible bearish action. But in tracing the movement of the DOGE/USD pair, it can be deduced that the price made a break-even move away from the resistance support.
What follows is a significant price that has started moving on an upward slope. If this happens, the bulls would be able to get the upper hand and even raise the cryptocurrency’s price since the rise in value is already in motion.
DOGE/USD price chart. Source: TradingView
With a Relative Strength Index of 56, the digital asset’s value is steady, which falls into the neutral zone located at the upper Bollinger band limit.
Additionally, the RSI appears to be moving upward, which translates to an expanding market and movement along the inflation curve. For emphasis, whenever the RSI slope rises, there is increasing trading activity.
DOGE Gaining Value
From the preceding analysis, barring any changes to the positive price trend of Dogecoin, the price is less prone to any unpredictable changes.
The upper Bollinger band is set at $0,1300, the strongest possible resistance for the meme token. The lower end of the Bollinger band is found at $0.1087, serving as the perfect support for Dogecoin.
The Dogecoin price analysis for the day shows that the meme cryptocurrency is still maintaining its bullish movement. The bulls are now in control of the market and are pushing to keep the price of the DOGE up.
Should the bull movement be sustained, the price of Dogecoin might continue to consolidate in the coming days.