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DOGE Price Analysis for April 4

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Tue, 4/04/2023 - 15:40
DOGE Price Analysis for April 4
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Bears remain more powerful on the market, however, there are some exceptions to the rule. Mainly, the price of DOGE has rocketed by 26%.

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Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has increased by almost 30% over the last 24 hours.

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Image by TradingView 

On the hourly chart, the price is trading in the middle of a wide channel, between the support at $0.09219 and the resistance at $0.1050. There are low chances of seeing any sharp moves by the end of the day, as DOGE has passed most of its ATR. In this case, sideways trading in the area around $0.10 is the more likely scenario.

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Image by TradingView

On the bigger time frame, the rate of DOGE has once again made a false breakout of the resistance at $0.09980. It shows the buyers' weakness and possible correction. If the situation does not change until the end of the day, traders can think about a drop to the $0.095 zone shortly.

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Image by TradingView

On the daily chart against Bitcoin (BTC), the price of DOGE has begun a sharp rise after the breakout of the resistance at 0.0000305. Even though the coin has entered the midterm bullish trend, it might need more time to accumulate energy for further growth. In this regard, sideways trading in the area of 0.0000320-0.0000350 is the more likely scenario.

DOGE is trading at $0.09830 at press time.

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