Dogecoin is experiencing a positive trend as it rises above the significant $0.1350 resistance zone against the US Dollar. The cryptocurrency is showing bullish signs and aims to break past the $0.1450 resistance, establishing a fresh increase above $0.1320.
The price movement involves trading above $0.1350 and the 100-hourly simple moving average. There is a crucial bullish trend line forming, providing support at $0.1420, suggesting possible bullish momentum if DOGE breaks the $0.1450 and $0.1465 resistance levels.
Dogecoin's recent surge saw it move past resistance points at $0.1320, beating major cryptocurrencies like Bitcoin and Ethereum. Even though there was a minor downside correction with the price dipping below $0.1420, a key bullish trend remains, with the price currently above $0.1320.
Currently, immediate resistance for DOGE is around $0.1465, with further major resistance at $0.1480. If the price closes above these levels, it might aim for $0.1520, and potential gains could elevate it to $0.1550 or even $0.1585.
However, should DOGE fail to breach $0.1465, it may decline, encountering initial support around $0.1420 and further support near $0.1400. The main support zone is at $0.1335, correlating with the 50% Fibonacci retracement level from $0.1206 to $0.1467.
The technical indicators suggest a bullish momentum as the MACD for DOGE/USD gains in this zone, and the RSI remains above 50, suggesting market strength.
