Dogecoin (DOGE) To Overcome $0.7 During the Weekend – Price Analysis

Briefly –

  • Dogecoin price reveals bullishness today.
  • DOGE/USD ready to extend higher.
  • The meme coin has a support level of $0.502.

Dogecoin’s price outlook paints a bullish picture today and seems ready to extend the upside. The original meme coin secured support near $0.502 following breaks out from a descending triangle setup. Moreover, the alt appears primed for more upswings in the short term. While publishing this content, Dogecoin changed hands at $0.0620, 3% up on the day.

Dogecoin 24Hr Timeframe: DOGE Poised for Uptrends

TradingView’s 24hr Dogecoin price shows DOGE stretched its upside and currently hovering at $0.0620. The canine-themed crypto seems prepared for more surges, with its resistance zone at $0.0750. Meanwhile, supports to the downside locate at $0.0550, then $0.0502. Losing ground here will see DOGE hitting the barrier at $0.0450. Generally, the alt retains a bullish bias in the short-term, targeting an upswing to $0.0750.

Dogecoin 4Hr Timeframe: Latest Price Developments

The 4hr price chart shows DOGE/USD broke out of a plunging triangle setup. Meanwhile, the breakout had the meme coin targeting the $0.0750 high in the short term. The altcoin sees bullish strength, supporting the short-term uptrends for the token.

Analysts expect Dogecoin to extend its upside. The alternative token will likely explore the resistance at $0.0750. Downward actions will meet support floors at $0.0550 and then $0.0502, beneath which DOGE will hit the $0.0450 foothold.

The Relative Strength Index (RSI) currently hovers beyond 50, suggesting a near-term upside potential for the altcoin. Also, the Moving Average Convergence (MACD) flash bullishness. Such readings support the upward narrative in the short time, with DOGE eyeing the $0.0750 mark. The meme token will encounter resistance at this mark. Dogecoin should overcome this hurdle to extend its upside.

Final Thought

Dogecoin flashes bullish tendencies today. Moreover, the meme token seems poised for stretched upside over the weekend. DOGE/USD secure a support level at $0.502 after overcoming its descending triangle setup. Analysts expect more upward movements for the alt. Nevertheless, traders should analyze broad market sentiments for informed decisions. Another bearish wave in the crypto space would annul DOGE’s upside journey.

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