Why is Dogecoin (DOGE) price rising today?

Dogecoin looks poised to move higher, but key resistance still holds. Below is an analysis of a few technical indicators that may give some insight into why DOGE's price has risen today.

Key support levels: $0.13

Key resistance levels: $0.21, $0.31

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1. Pressure increase

Sellers seem reluctant and still hold the price under key protection at 21 cents. However, the pressure is increasing at this key level, and it may break soon as buyers intensify their pressure.

2. Momentum favors bulls

Although the bulls are unable to break high, their speed and volume give them an edge. Over the past few days, buyers have dominated the chart, and there is no sign of that changing. The resistance at 21 cents could fall at any time if the buying rate increases.

3. MACD shows strength

The daily MACD is showing a higher level on the histogram. This gives a clear bias and shows that buyers are in control, even if the key resistance looks stubborn right now. Looks like there's a big movement going on.