Dogecoin forms fifth bullish daily candle: Trend reversal incoming?
Dogecoin price analysis for June 27, 2022, comes on a bullish note for the world’s biggest meme coin and it seems that the chances of the meme coin making higher highs in the coming days are considerable. As noted in our DOGE price analysis for June 26, 2022, there is a strong resistance region for the meme coin towards the $0.10 price level which needs to be broken to confirm an uptrend for the DOGE token. Interestingly, despite the bearish crypto winter, it is clear that overall bulls have been in charge and DOGE has held the 10th position in the market.
The data from CoinMarketCap shows that the trading volume for Dogecoin has surged by 145.01% in the last 24 hours, followed by a 9.84% surge in the market cap. Moreover, the Market Dominance of the coin rose to 1.08%, while the Volume / Market Cap Ratio has a value of 0.1148.
The daily candle for Dogecoin opened at a price of $0.07297 and reached a daily high of $0.07880. Furthermore, the daily low for the coin stands at a price of $0.07291, and the price of 1 DOGE at the time of writing is $0.07718.
Dogecoin price analysis on the daily chart for June 27
Dogecoin price analysis on the daily chart for June 27, 2022, will consider the data presented by 3 major indicators on the daily chart below.
Source: TradingView
The RSI indicator reads a value below 57 which confirms that Dogecoin bulls are in charge of the price action.
The MACD indicator shows that the MACD line remains above the signal line and the histogram remains green for the token.
The price action for Dogecoin has broken into the bullish zone of the Bollinger Bands while a bullish breakout is possible.
Conclusion
Dogecoin price analysis for June 27, 2022, ends on a bullish note for the meme coin with increased chances of testing $0.08 in the near future.
