Dogecoin recently experienced an upward momentum, surpassing the $0.350 zone against the US Dollar. The cryptocurrency is on a consolidation phase and stands to rise further if it can clear the resistance levels at $0.3650 and $0.3720. Analysts note a break above a bearish trend line, reinforcing positive sentiment.
Currently, Dogecoin trades above $0.350 and the 100-hourly simple moving average. The immediate challenge on the upside is $0.3650, with major resistances at $0.3720 and $0.380. A breakthrough past them could propel it towards $0.40 or even $0.420.
If Dogecoin fails to surpass $0.3650, it risks a decline, with the primary support levels at $0.3550, $0.3460, and $0.3380. A breach below these could see it fall towards $0.3120 or $0.3080. Technical indicators hint at ongoing bullish momentum, with the MACD gaining and RSI above 50.
