Dogecoin turns $0.14 into support as bulls aim higher

Dogecoin price analysis for April 28, 2022, ends on a slightly bearish note for the token with $0.14 retaining as support. 
Dogecoin price analysis for April 28, 2022, ends on a slightly bearish note for the token with $0.14 retaining as support. 

Dogecoin price analysis for April 28, 2022, comes on a slightly bullish note for the token which has surged by 0.20% in the last 24 hours which means that the meme coin might remain sluggish in the near future. The meme coin has seen a very optimistic price action recently as it was able to push above the $0.16 price region but failed to consolidate above that price region. On the other hand, the DOGE price analysis for April 27, 2022, noted that DOGE formed important support at the $0.14 price region which currently remains unbroken.

The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 60.05% in the last 24 hours, followed by a 0.42% surge in the market cap. Moreover, the Market Dominance of the token dropped 1.03%, while the Volume / Market Cap Ratio has a value of 0.0914.

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 28

Dogecoin price analysis on the daily chart for April 28 will consider the data presented in the daily chart below.

Dogecoin price analysis
Source: TradingView

The MACD indicator shows that the MACD line is nearly touching the signal line but the latter still prevails as the MACD histogram remains bearish.

The RSI indicator reads a value below 50 which means that the bears are gradually driving the bulls out of the market movement.

The price action for Dogecoin broke out of the bullish zone of the Bollinger Bands and returned to the bearish zone the following day. Currently, DOGE aims to retest the middle zone of the Bands.

Conclusion

Dogecoin price analysis for April 28, 2022, ends on a slightly bearish note for the token with $0.14 retaining as support.

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