Dogecoin stuck below $0.15 resistance as indicators remain bullish

Dogecoin price analysis for March 29, 2022, confirms that the token has turned bullish but is unable to push above the $0.15 price resistance. It is important to note that the meme coin was able to break above this resistance for a small duration but was unable to maintain prices above this region. The DOGE price analysis for March 29, 2022, confirmed that the meme coin was able to take the 12th position in the market and now aims to enter the top 10. 

The data from CoinMarketCap shows that the trading volume for Dogecoin has declined by 19.67% in the last 24 hours, followed by a 1.97% drop in the market cap. Moreover, the Market Dominance of the token has dropped to 0.90%, while the Volume / Market Cap Ratio has a value of 0.06376.

The daily candle for Dogecoin opened at a price of $0.1424 and reached a daily high of $0.1474. Furthermore, the daily low for the token stands at a price of $0.1420 and the price of 1 DOGE at the time of writing is $0.1458.

Dogecoin price analysis on the daily chart for March 29

Dogecoin price analysis on the daily chart for March 29 will take into consideration the data gathered from the 3 major indicators on the daily chart below.

Source: TradingView

The MACD indicator shows that the MACD line is very distant from the signal line while the MACD histogram remains bullish for the token filled with green bars. 

The RSI indicator reads a value of 65.43 which means that we might continue to see a surge in buying pressure for Dogecoin. The gradient of the line suggests a movement towards higher regions. 

The price action broke out from the upper end of the Bollinger Bands which means that the buying pressure was too much for the bears to compete with.

Conclusion

Dogecoin price analysis for today ends on a bullish note for the token as chances of breaking the $0.15 resistance seem quite high.