LIVEDOGE price analysis
(note: the post contains data by CoinPedia)
The Dogecoin price has also initiated a fresh bullish spell as the prices have inflated over 10% since the early trading hours. However, the bulls do not appear to display acute strength as they are struggling to breach above the descending trend line. Therefore, it appears that the price could face yet another rejection and remain consolidated within a range.
The DOGE price rally appears to be slightly different than the FLOKI & PEPE as it remains under bearish influence. Interestingly, the stochastic RSI displays a bullish divergence and a possibility of consolidating within the upper range, similar to the lower accumulation phase it carried out in April. Therefore, the Dogecoin price is believed to breach the trend line but the levels at $0.16 may act as a barrier. If bulls manage to rise above these levels, a new yearly high could be imminent.
