Dogecoin started a fresh increase from the $0.0985 support against the US Dollar, aiming to gain momentum if it clears the $0.1085 resistance. DOGE's price is trading above $0.100 and the 100-hourly simple moving average, showing positive signs.
After a steady decline, Dogecoin found support near $0.0985 and initiated an upward move, breaking past $0.1020 and $0.1040 resistance levels. It also surpassed the 50% Fib retracement of the downward move from $0.1084 to $0.0985.
Immediate resistance is near the $0.1050 level, close to the 61.8% Fib retracement of the recent downward move. Success in surpassing $0.1060 and $0.1085 might push the price towards $0.1150 or $0.1200.
If DOGE fails to climb above $0.1060, it could face another decline with initial support at $0.1030, possibly dropping to $0.0920 or $0.0885.
Technical indicators show the MACD gaining momentum in the bullish zone, and the RSI is above 50, indicating strength. Major support levels are $0.1030 and $0.1000, while resistance levels are $0.1060 and $0.1085.
