Dogecoin once again aims for $0.07: Best time to buy?

Dogecoin price analysis
Source: TradingView

Dogecoin price analysis for July 04, 2022, comes on a sluggish note for the world’s biggest meme coin as we can confirm that the token has surged by around 1.84% in the last 24 hours and investors can expect higher prices in the near future if the buying volume continues to increase for the meme coin. Furthermore, as noted in our DOGE price analysis for July 3, 2022, the meme coin has been trying to breach the $0.07 resistance but hasn’t been able to do so. It seems that in order to reclaim this region, the bulls need to take over once again and the $0.06 price support needs to hold.

The data from CoinMarketCap shows that the trading volume for Dogecoin has surged by 2.74% in the last 24 hours, followed by a 1.97% surge in the market cap. Moreover, the Market Dominance of the coin rose to 1.02%, while the Volume / Market Cap Ratio has a value of 0.03412.

The daily candle for Dogecoin opened at a price of $0.06721 and reached a daily high of $0.06729. Furthermore, the daily low for the coin stands at a price of $0.06566, and the price of 1 DOGE at the time of writing is $0.06682.

Dogecoin price analysis on the daily chart for July 4

Dogecoin price analysis on the daily chart for July 4, 2022, will consider the data presented by 3 major indicators on the daily chart below.

Dogecoin price analysis
Source: TradingView

The RSI indicator reads a value below 47 which means that the Dogecoin bulls haven’t given up and higher prices can follow.

The MACD indicator shows that the MACD line is coming very close to the signal line and the MACD histogram’s intensity continues to decrease.

The price action for Dogecoin is retesting the middle of the Bollinger Bands as a bearish breakout is certainly possible.

Conclusion

Dogecoin price analysis for July 4, 2022, ends on a bearish note for the meme coin with considerable chances of reclaiming $0.07.

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