Dogecoin Price Heading Higher, Supported by Major DMA lines

  • The dogecoin price over the monthly chart is trying to move higher while finding good support for its critical moving averages. 
  • The digital asset is trading above the major moving averages of 20, 50, 100, and 200-day lines, acting as support lines.
  • The pair of DOGE/BTC is trading on a bullish note at 0.000006015 BTC with an intraday gain of +0.32%, and the ratio of DOGE/ETH is CMP at 0.00007947 ETH ETH with a 24-hours change of +0.51%.

Dogecoin price at the monthly chart is trading on higher zone and trying to build a bullish chart setup. At the same time, the crypto asset is gradually heading towards the higher levels and trying to develop the rounding bottom pattern. Volume at the monthly chart is lower and falls below the average line, which needs to improve in upcoming sessions.

The coin finds good support of its vital moving averages, whereas 20 and 50-DMA lines act as good support lines. Likewise, the primary support is given by 100 and 200-DMA lines. If DOGE sustains above its 20 and 50-DMA lines, supportive volume action will further create positive price action. Support on the lower side is at $0.2650 and $0.2290, whereas resistance on the higher side is $0.3525 and $0.3820.

Dogecoin price is building a rounding bottom pattern


Dogecoin price over the weekly chart is building a rounding bottom pattern, while the price is slowly heading towards higher levels. In contrast, the technical parameters also favor bulls but need strong volume activity to boost another lap of bullish momentum. Volume at the 4-hour time frame is significantly lower and needs to grow in upcoming trading sessions. Presently, the Dogecoin token is trading at $0.3111 with an intraday gain of +3.94%, and the volume to market cap ratio is at 0.0588.

Relative Strength Index (BULLISH): Dogecoin price RSI presently indicates bullish momentum over the weekly chart. In contrast, the token is reached near the overbought zone and CMP at 63.    

Moving Average Convergence Divergence (BULLISH): The daily chart indicates a bullish trend, after a long mixed trend now given positive crossover. The buyer’s line (blue) overpowers the seller’s signal line (orange). 

Support levels: $0.2650 and $0.2290 

Resistance levels: $0.3525 and $0.3820.

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