Dogecoin rebounds strongly from $0.13 price region: Reclaims $0.14

Dogecoin price analysis for April 29, 2022, comes on a bullish note for the token which has seen a price surge of over 3% in the last 24 hours after finding strong buying demand at the $0.13 price region. It seems that we can expect DOGE to hold prices here as the meme coin has retained its position as the 10th biggest cryptocurrency by market cap. Furthermore, as per our DOGE price analysis for April 28, 2022, there is important support at the $0.14 price region.

The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 22.52% in the last 24 hours, followed by a 3.86% surge in the market cap. Moreover, the Market Dominance of the token dropped to 1.06%, while the Volume / Market Cap Ratio has a value of 0.0669.

The daily candle for Dogecoin opened at a price of $0.1399 and reached a daily high of $0.1433. Furthermore, the daily low for the token stands at a price of $0.1395, and the price of 1 DOGE at the time of writing is $0.1398.

Dogecoin price analysis on the daily chart for April 29

Dogecoin price analysis on the daily chart for April 29 will consider the data presented in the daily chart below which consists of 3 major indicators of the TA space. 

Source: TradingView

The MACD indicator shows that the MACD line remains below the signal line as the MACD histogram is also bearish.

The RSI indicator reads a value below 52 which confirms that the bulls are gradually losing their dominance as the gradient of the line shows that higher prices might follow.

The price action for Dogecoin broke down to the bearish region of the Bollinger Bands and is currently retesting the middle zone of the Bands.

Conclusion

Dogecoin price analysis for April 26, 2022, comes on a bullish note for the meme coin as we can expect the $0.14 price region to hold support.