Dogecoin (DOGE) is currently trading at $0.1334, reflecting a 9.10% gain over the past 24 hours. The meme coin saw a 24-hour liquidation totaling $5.45 million. Recent technical indicators suggest a potential shift toward a bullish trend, with DOGE holding firm at a possible resistance level, which may have helped prevent further declines.
Over the last 24 hours, DOGE’s price surged by 9.10%, reaching a high of $0.1359 and a low of $0.1208. Despite this price increase, daily trading volume dropped by 14% to $1.95 billion. As of now, Dogecoin’s market cap stands at $19.54 billion, according to CoinMarketCap, while Coinglass data shows $5.45 million in liquidations.
An analyst predicted that DOGE could potentially hit $0.13 overnight, driven by its recent price movements.
Will the Bullish Trend Continue?
DOGE has seen a strong price increase of 24% over the past week. It began the week at $0.1074, climbing steadily to a high of $0.1274 without any major pullbacks. If DOGE can break above the $0.1370 mark, it may soon test the next resistance level at $0.1415. However, if bearish pressure causes the price to dip below $0.1268, it might revisit the $0.1220 support level.
Additionally, Dogecoin’s Moving Average Convergence Divergence (MACD) is currently positioned above the signal line, indicating bullish sentiment that could influence price momentum
Technical Indicators:
DOGE’s recent upward trend has pushed it into the overbought zone, as the daily Relative Strength Index (RSI) is currently at 70.60. The short-term 9-day moving average (MA) has crossed above the long-term 21-day MA, highlighting a brief bullish pattern and a buy signal for traders.
