Bitcoin trades above $10,000 after facing rejection for 4 days below $10,500 and $10,000 just to consolidate and test supports around $9,600 and $9,700. Dogecoin is believed to have a concurrent motion with BTC, but just when Bitcoin was trading $9,200, DOGE price had hit a fresh 30-day high at $0.0028. Revising the same, the latter is hitting new highs as the positive intraday move has taken the coin to breach $0.0029, just a few hours back.
Dogecoin Price Analysis
After knowing the impressive independent move of Dogecoin price since the start of the year until the press time, we see the rising momentum continuing and as the coin hits a fresh high at $0.0029. The recent pullback is anticipated due to moderate volatility that is confirmed by the 20-day Bollinger Bands. However, today the coin seemed to have aligned with the market momentum as the MACD of DOGE exhibits a bullish divergence over the signal line. The 50-day MA moves above the 200-day MA as the latter provides support at $0.00255.
Now, believing whether the coin holds an independent momentum or is subject to move as per Bitcoin, we see the above daily chart of Dogecoin and BTC against USD. The “golden crossover” that owes the present bullish divergence seems to have happened for Dogecoin and is approaching for BTC/USD. Also, just when DOGE price was seen, ranging at $0.0035 BTC price was around $10,200, after which it faced rejection at $10,500. Therefore, the former is believed to grow as the bullish crossover has happened and is likely to set a fresh 90-day high.
