Cryptocurrency Price analysis and Prediction

Dogecoin gears up to enter the $0.15 price level: Success or failure?

March 31, 2022

Dogecoin price analysis for March 31, 2022, confirms that the token is following a bullish trajectory in the short term as the DOGE bulls are gearing up to break into the $0.15 price level soon. Furthermore, it is also important to note that the DOGE price trajectory is currently bearish on the whole as the token is nearly 80% low than its all-time low. Furthermore, we also noted in our DOGE price analysis for March 30 that $0.15 is major resistance.

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The data from CoinMarketCap shows that the trading volume for Dogecoin has declined by 11.42% in the last 24 hours, followed by a 1.93% surge in the market cap. Moreover, the Market Dominance of the token has risen to 0.9%, while the Volume / Market Cap Ratio has a value of 0.04417.

The daily candle for Dogecoin opened at a price of $0.1431 and reached a daily high of $0.1474. Furthermore, the daily low for the token stands at a price of $0.1424 and the price of 1 DOGE at the time of writing is $0.1455.

Dogecoin price analysis on the daily chart for March 31

Dogecoin price analysis on the daily chart for March 31 will take into account the analysis noted from the indicators placed on the daily chart below.

The MACD indicator shows that the MACD line and the signal line are quite far apart with the former being above the latter hinting that the conditions remain bullish for DOGE.

The RSI indicator reads a value of 64.75 which means that the buying pressure is quite high for the token and the chances of breaking %0.15 seem pretty high. The gradient for today suggests that prices are getting strong resistance from DOGE.

‘The price action for Dogecoin failed to break out from the upper end of the Bollinger Bands which means that DOGE might face trouble.