Dogecoin price analysis for July 19, 2022, comes on a bullish note for the world’s biggest meme coin as the prices have surged by more than 6% in the last 24 hours and investors can expect higher highs for the token if the $0.07 price resistance is broken. Furthermore, the buying volume for the meme coin also surged in the same duration which means that we might see DOGE break the $0.07 price level. However, it is imperative that this region is then turned into support so that an uptrend can be formed or else, we might see DOGE retest the $0.06 price level.
As noted in our DOGE price analysis for July 18, 2022, there are considerable chances of the meme coin retesting the $0.060 price level if $0.07 isn’t turned into a support. This is because $0.06 has been holding for weeks.
The data from CoinMarketCap shows that the trading volume for Dogecoin has surged by 145.70% in the last 24 hours, followed by a 6.03% 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 0.06836.
The daily candle for Dogecoin opened at a price of $0.06755 and reached a daily high of $0.06867. Furthermore, the daily low for the coin stands at a price of $0.06663, and the price of 1 DOGE at the time of writing is $0.06687.
Dogecoin price analysis on the daily chart for July 19, 2022, will consider the data presented by 3 major indicators on the daily chart below.
Source: TradingView
The RSI indicator reads a value below 51 which confirms that the bulls are overall in control of the Dogecoin price action.
The MACD line is above the signal line which confirms that a bullish momentum will prevail.
The price action for Dogecoin is retesting the middle zone of the Bollinger Bands indicating that sluggish movement might follow.
Dogecoin price analysis for July 19, 2022, ends on a sluggish note for the meme coin with high chances of retesting $0.07 resistance.
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