Dogecoin turns bullish with a 11% rise: DOGE back above $0.13

Dogecoin price analysis for March 24, 2022, comes riding on a bullish note for the token as the meme coin rose nearly 11% in the last 24 hours finally reclaiming the $0.13 price level and now aims for the $0.14 price zone. However, to do that, the token needs to turn $0.13 into support otherwise, DOGE might once again drop below $0.13. The DOGE price analysis for March 23 noted that 

The data from CoinMarketCap shows that the trading volume for Dogecoin has jumped by 231.00% in the last 24 hours, followed by an 11.46% surge in the market cap. Moreover, the Market Dominance of the token has surged to 0.92%, while the Volume / Market Cap Ratio has a value of 0.0954.

The daily candle for Dogecoin opened at a price of $0.1299 and reached a daily high of $0.1384. Furthermore, the daily low for the token stands at a price of $0.1277 and the price of 1 DOGE at the time of writing is $0.1354.

Dogecoin price analysis on the daily chart for March 24

Dogecoin price analysis on the daily chart for March 24 will include the readings from the following indicators on the daily chart.

Source: TradingView

The MACD indicators show that the MACD line is above the signal line and is also moving further away from it. Furthermore, the MACD histogram is also turning bullish as chances of a bearish breakout remain high.

The RSI line shows a huge spike as it reads a value above 61 which means that the bulls are in charge as Dogecoin is in demand among investors for today. 

The price action has successfully broken out from the upper end of the Bollinger Bands which means that the chances of a bullish move towards $0.14 remain high.

Conclusion

The Dogecoin price analysis for March 24, 2022, confirms that $0.14 is an important price level for DOGE which might be reclaimed by the bulls as per indicators.