Dogecoin Price (DOGE) Eyes Impressive Gains: Will It Break Through?

Dogecoin started a steady increase from the $0.1280 zone against the US Dollar. DOGE could gain pace if it clears the $0.1360 resistance zone.

  • DOGE price is eyeing more gains above the $0.1350 resistance zone.
  • The price is trading above the $0.1320 level and the 100-hourly simple moving average.
  • There is a key bearish trend line forming with resistance at $0.1362 on the hourly chart of the DOGE/USD pair (data source from Kraken).
  • The price could continue to move up if it clears the $0.1360 resistance zone.

Dogecoin Price Eyes Upside Break, Can It Follow Bitcoin’s Rise?

After a short-term pullback, Dogecoin price found support near the $0.1280 zone. A low was formed at $0.1282 and DOGE price is now rising. There was a move above the $0.130 resistance zone.

The price surpassed the 50% Fib retracement level of the downward move from the $0.1386 swing high to the $0.1282 low. However, DOGE is well behind Bitcoin since the latter was able to clear the $68,800 resistance zone.

Dogecoin is now trading above the $0.1320 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1345 level. The next major resistance is near the $0.1360 level. There is also a key bearish trend line forming with resistance at $0.1362 on the hourly chart of the DOGE/USD pair. The trend line is close to the 76.4% Fib retracement level of the downward move from the $0.1386 swing high to the $0.1282 low.

Dogecoin Price

A close above the $0.1360 resistance might send the price toward the $0.1420 resistance. Any more gains might send the price toward the $0.150 level. The next major stop for the bulls might be $0.1650.

Are Dips Limited In DOGE?

If DOGE’s price fails to gain pace above the $0.1360 level, it could start a downside correction. Initial support on the downside is near the $0.1320 level. The next major support is near the $0.1300 level.

The main support sits at $0.1280. If there is a downside break below the $0.1280 support, the price could decline further. In the stated case, the price might decline toward the $0.1145 level.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.1320 and $0.1280.

Major Resistance Levels – $0.1360 and $0.1420.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Latest posts

post-thumbnail
Bitcoin Rich List: Who’s Stacking, Who’s Slacking?
The post Bitcoin Rich List: Who’s Stacking, Who’s Slacking? appeared first on Coinpedia Fintech ...
READ MORE
post-thumbnail
XRP Price Prediction for 2040: Will It Be Enough to Quit Your 9-to-5?
The post XRP Price Prediction for 2040: Will It Be Enough to Quit Your 9-to-5? appeared first on Coi...
READ MORE
default post thumbnail
Analyst Explains Reason Behind Tron Price Sluggishness — Are TRX Bears Now In Control?
The Tron price has continued on its recovery path since reaching a bottom in mid-March, steadily cli...
READ MORE
default post thumbnail
Bitcoin Still Bullish, But $200,000 Off The Table And $137,000 In Sight
Bitcoin’s price action has drawn a sharp dividing line between long-term bullish expectations and ...
READ MORE
default post thumbnail
$202 Million In Long Liquidations Rock Bitcoin Market — What’s Next For BTC Price?
Over the weekend, Bitcoin’s price extended its disappointing performance, falling to around $103,0...
READ MORE
default post thumbnail
Solana Reclaims Key Support After Sweeping Lows – Early Signs Of Reversal?
Solana (SOL) has remained under the radar in recent weeks, with market attention primarily centered ...
READ MORE
Read more posts