Dogecoin Daily Price Prediction For January 31: DOGE/USD Set to Capture $0.100 Resistance Level
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In the wake of the new year, the Dogecoin market chose to move in favour of the bulls. The bull market continues to maintain a progressive movement of the price in the upward direction. Around the middle of January, the market encountered the obstacle of the $0.0875 resistance level. But with a new support level of $0.0797, the bulls were able to break through the obstacle. Interestingly, the same $0.0875 has now become the current support for the bullish price.
DOGE/USD Price Statistic
- DOGE/USD price now: $0.0938
- DOGE /USD market cap: $12,342,909,197
- DOGE/USD circulating supply: 132,670,764,300 DOGE
- DOGE/USD total supply: 132,670,764,300
- DOGE/USD coin market cap rank: #9
Key Levels
- Resistance: $0.10, $0.12, $0.13
- Support: $0.80, $0.75, $0.70
Price Prediction for Dogecoin: A look at the Indicators
The bulls are having the upper hand in the Dogecoin market. And the indicators used for this analysis carry a bullish sentiment. Today’s market session is also dominated by buyers, as depicted by a bullish momentum candle. However, from the Bollinger Bands indicator, the lower band is a bit deviant. This reflects the activities of the bears in the market. But the bearish pressure is not so strong as to affect the general direction of the market, which is to the upside. With this performance of the bull market, the price will soon reach the $0.10 benchmark.
DOGE/USD 4-Hour Chart Outlook
So far in the 4-hour trading session, bears have only been able to take the third session. In the fourth session, however, bulls began to reclaim the bearish price. The Bollinger indicator portrays the market in overbought territory, which is what triggered the price retracement, bringing the price action back into the bands of the indicator. Once again, the bull market is ready for more action. As the bulls maintain a moderate move, they will continue to advance the price to the upside.
