Dogecoin price analysis for June 20, 2022, comes on a bullish note for the token as we have seen a price surge of more than 5.3% in the last 24 hours but investors can expect another price surge in the coming days if DOGE bulls are able to retain the price action above the $0.06 price level. It will be interesting to see if DOGE still has what it takes to remain bullish. Furthermore, as noted in our DOGE price analysis for June 19, 2022, the bulls tried to break into an uptrend in the short term but that is not possible until we see $0.10 price region turned into a support level.
The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 36.36% in the last 24 hours, followed by a 4.81% surge in the market cap. Moreover, the Market Dominance of the coin rests at 0.88%, while the Volume / Market Cap Ratio has a value of 0.08844.
The daily candle for Dogecoin opened at a price of $0.06046 and reached a daily high of $0.06152. Furthermore, the daily low for the coin stands at a price of $0.05744, and the price of 1 DOGE at the time of writing is $0.05982.
Dogecoin price analysis on the daily chart for June 20
Dogecoin price analysis on the daily chart for June 20, 2022, will consider the data presented by 3 major indicators on the daily chart below.
The RSI indicator reads a value below 38 which means that the bulls are taking control of the price action and investors can expect higher prices soon.
The MACD indicator shows that the MACD line is touching the signal line and a bullish divergence will follow if Dogecoin takes over.
The price action for Dogecoin is situated in the bearish region of the Bollinger Bands but a retest of the middle zone is quite likely.
Conclusion
Dogecoin price analysis for June 20, 2022, ends on a bullish note for the meme coin with considerable chances of retaining $0.06.
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