Dogecoin Price (DOGE) Eyes Impressive Gains: Will It Break Through?
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Dogecoin (DOGE) has started a steady increase from the $0.1280 zone against the US Dollar, currently trading above the $0.1320 level and the 100-hourly simple moving average. Key focus is on breaking the $0.1360 resistance zone, which could pave the way for gains towards $0.1420 and potentially $0.150. A bearish trend line at $0.1362 poses resistance.
The recent rise follows a short-term pullback where DOGE found support near $0.1282. Overcoming the 50% Fib retracement from the $0.1386 high to $0.1282 low, DOGE eyes further gains. Immediate resistance levels are $0.1345 and $0.1360, with a possible upward move beyond the $0.1360 resistance. Clearing this could push DOGE price towards higher levels like $0.150 and $0.1650.
However, failure to break the $0.1360 level might lead to a downside correction. Initial support lies near $0.1320, followed by $0.1300 and $0.1280. If $0.1280 is breached, the price may fall towards $0.1145. Technical indicators are bullish with the hourly MACD gaining momentum and RSI above 50. Major support and resistance levels for DOGE/USD are $0.1320, $0.1280 and $0.1360, $0.1420 respectively.
Source: www.newsbtc.com ↗
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