DOGE Technical Analysis - Overnight Jump in DOGE Reaches $0.17

With Elon Musk ready to buy out Twitter, his favorite memecoin finds an unprecedented overnight growth reaching the trend defining EMA at $0.17. However, the rally struggles to sustain a higher level and retraces with a new daily candle. So, should you remain bullish on the memecoin, or is it too late to enter?

Let us start with the market price buyers are holding today.

At $0.1558 at 5:30 GMT, after a jump of 20.89% last night, displays a phenomenal rise in bullish powers. 

Taking a quick look at the intraday trading volume, it shows an outstanding growth of 850% to reach the $5.74 Bn mark and helps the market cap reach $20.75 Bn. 

Looking at the preliminary data, we can confirm that DOGE at the moment is highly bullish.

Further looking at the uncontrollable bullish carnage in the DOGE/USD pair chart, a bullish engulfing candle undermining the last fortnight’s range is seen with a long-wick candle showing a lower price rejection as a follow-through candle.

Let us take a more in-depth look into the technical analysis of the DOGE token and see what the price action and the technical indicators say about it.