Dogecoin saw a sharp move towards the $0.2620 level against the US Dollar, but it's showing signs of recovery. The DOGE price is attempting to bounce back above $0.30, recently rising above $0.320 and its 100-hourly simple moving average.
The DOGE/USD pair on the Kraken exchange indicates a break above a bearish trend line, with resistance at $0.3120, suggesting further upward movement if the price surpasses $0.3350 and $0.350 levels.
If the DOGE price clears these resistance levels, it could gather momentum, potentially rising towards $0.3750 or even $0.4120. However, failure to break $0.3350 might lead to another decline, with key support at $0.2620 and a possible descent to $0.250 or $0.2320.
Technical indicators such as the hourly MACD and RSI are showing bullish tendencies, with the MACD gaining momentum in the bullish zone and the RSI above 50. Still, traders should watch the $0.3350 resistance and $0.30 support levels closely for future price action.
