Dogecoin reclaims $0.15 with a 3% price surge in 24 hours

Dogecoin price analysis for April 8, 2022, begins on a slightly bullish note for the meme coin as it has seen increased volatility in recent days. Furthermore, as noted in our Dogecoin price analysis for April 7, 2022, the meme coin was dumped by the investors as it failed to consolidate above the $0.17 price region. It is also important to consider that DOGE has the nearest support at $0.14, which the token has successfully retained.

The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 41.59% in the last 24 hours, followed by a 2.89% surge in the market cap. Moreover, the Market Dominance of the token has surged to 0.99%, while the Volume / Market Cap Ratio has a value of 0.08014.

The daily candle for Dogecoin opened at a price of $0.1459 and reached a daily high of $0.1534. Furthermore, the daily low for the token stands at a price of $0.1451, and the price of 1 DOGE at the time of writing is $0.1513.

Dogecoin price analysis on the daily chart for April 8

Dogecoin price analysis on the daily chart for April 8 will be conducted based on three major indicators, which will be implemented on the daily chart below.

Source: TradingViewThe MACD indicator shows that the MACD line and the signal line are very close to each other as chances of bearish divergence on the daily chart are increasing.

The RSI indicator confirms a value above 57 which means that the bulls are still in charge of the price action for Dogecoin as investors expect another run towards $0.17.

The price action is still progressing in the bullish zone of the Bollinger Bands, which means that bulls might attempt to push DOGE through the $0.16 region.

Conclusion

Dogecoin price analysis for April 8, 2022, ends on a slightly bullish note for the token as chances of losing the $0.15 price level as support seem quite low.