Dogecoin price analysis for June 6, 2022, comes on a slightly bullish note for the token as we have seen a price surge of more than 2% in the last 24 hours and investors can expect higher prices in the coming days as well. As noted in our DOGE price analysis for June 5, 2022, the meme coin has been holding above the $0.08 price level which is a major support level for the meme coin. It is imperative that the DOGE token retains prices above this region to confirm an uptrend as a major resistance level is present at $0.09.
The data from CoinMarketCap shows that the trading volume for Dogecoin has risen by 2.70% in the last 24 hours, followed by a 2.74% surge in the market cap. Moreover, the Market Dominance of the coin dropped to 0.86%, while the Volume / Market Cap Ratio has a value of 0.03016.
The daily candle for Dogecoin opened at a price of $0.08108 and reached a daily high of $0.08372. Furthermore, the daily low for the coin stands at a price of $0.08089, and the price of 1 DOGE at the time of writing is $0.08335.
Dogecoin price analysis on the daily chart for June 6
Dogecoin price analysis on the daily chart for June 6, 2022, will consider the data presented by 3 major indicators on the daily chart below.
Source: TradingView
The RSI indicator reads a value below 43 which means that the bulls aim to take over and the gradient of the line suggests that higher prices can be seen.
The MACD indicator shows that the MACD line is above the signal line and the bullish intensity of the MACD histogram is increasing.
The price action for Dogecoin aims to break above the middle zone of the Bollinger Bands and as result, form an uptrend in the short term.
Conclusion
Dogecoin price analysis for June 6, 2022, ends on a slightly bullish note for the meme coin with low chances of breaking $0.09.
