Dogecoin (DOGE) Price Analysis: Bulls Attempt to Reclaim the $0.4 Level, But Will They Succeed?

Dogecoin and other top meme coins have staged a major recovery in the past few days as the overall market bounced back from a correctional phase.

Dogecoin price analysis shows a major recovery as the meme coin surged past the $0.42 resistance level on Friday. A breakout above this level could set the asset up for another major rally.

Dogecoin price recovered sharply on Friday as the meme coin surged past the $0.42 resistance level. DOGE price now trades at a 3-week high and looks set to continue its rally in the near term.

Dogecoin price analysis: Meme coin surges past $0.42 resistance level

DOGE price began the day trading at $0.41, up slightly from Thursday’s close of $0.402. However, a surge in buying pressure saw DOGE price quickly rise to a high of $0.44 in the early hours of Friday.

From there, DOGE price encountered some selling pressure at the $0.44 resistance level, but the bulls were ultimately able to push through this level later on Friday. DOGE price then surged to a 3-week high of $0.45 before pulling back slightly.

At the time of writing, DOGE price is trading at $0.44, up 9.6% on the day and 26.3% in the past week. DOGE price is now also up 125% from its 2023 low of $0.19, which was set in early January.

Dogecoin price chart – daily

Dogecoin price technical analysis: Bullish momentum continues

The technical analysis of Dogecoin price is bullish, with the meme coin continuing its surge higher on Friday. DOGE price is now trading above the 50-day moving average (MA), which is a bullish sign.

The Relative Strength Index (RSI) is also bullish, with the indicator currently at 68, which is in overbought territory. This suggests that there could be some pullback in DOGE price in the short term.

However, the overall trend for DOGE price is still bullish, and a break above the $0.44 resistance level could see DOGE price continue its rally towards the $0.48 and $0.55 resistance levels.

Dogecoin price key levels to watch

Resistance Levels: 0.44, 0.48, 0.55

Support Levels: 0.365, 0.262, 0.22

Where to buy Dogecoin (DOGE)

If you’re looking to buy Dogecoin (DOGE), you can do so through a cryptocurrency exchange. Some of the best exchanges to buy DOGE include Binance, Coinbase, and Kraken.

Once you’ve created an account on an exchange, you’ll need to deposit funds into your account. You can do this by transferring cryptocurrency from another wallet or by buying cryptocurrency with a credit or debit card.

Once your funds have been deposited, you’ll be able to buy DOGE by searching for the DOGE/USDT or DOGE/USD trading pair. Enter the amount of DOGE you want to buy and click on the “Buy” button.

Your DOGE will then be credited to your exchange wallet and you’ll be able to trade or withdraw it at any time.