Dogecoin (DOGE) Shows Controlled Strength as Traders Eye Key Resistance Above
Analysis
Price Impact
MedDogecoin is showing controlled strength, consolidating above key support levels. there's potential for a significant upward move if it breaks major resistance, but also a risk of minor corrections if support fails.
Trustworthiness
HighThe source explicitly states a strict editorial policy focusing on accuracy, relevance, and impartiality, with content created by industry experts and meticulously reviewed, adhering to the highest reporting standards.
Price Direction
BullishDoge has started a fresh increase, holding gains above $0.150 and the 100-hourly simple moving average. the formation of a bullish trend line and the potential to target $0.160-$0.180 suggests an upward bias, despite possibilities for minor pullbacks.
Time Effect
ShortThe analysis focuses on hourly chart data, immediate support/resistance levels, and 'near-term' price movements, indicating a short-term outlook on potential price action.
Original Article:
Article Content:
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Dogecoin started a steady increase above $0.150 against the US Dollar. DOGE is now consolidating and might correct lower to $0.1480. DOGE price started a fresh increase above $0.1450 and $0.150. The price is trading above the $0.150 level and the 100-hourly simple moving average. There is a bullish trend line forming with support at $0.1490 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could aim for a fresh increase if it remains stable above $0.1480. Dogecoin Price Holds Gains Dogecoin price started a fresh increase after it settled above $0.1420, like Bitcoin and Ethereum . DOGE climbed above the $0.150 resistance to enter a positive zone. The bulls were able to push the price above $0.1550. A high was formed at $0.1565 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.1330 swing low to the $0.1565 high. Besides, there is a bullish trend line forming with support at $0.1490 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.150 level and the 100-hourly simple moving average. Source: DOGEUSD on TradingView.com If there is another increase, immediate resistance on the upside is near the $0.1565 level. The first major resistance for the bulls could be near the $0.160 level. The next major resistance is near the $0.1620 level. A close above the $0.1620 resistance might send the price toward $0.1685. Any more gains might send the price toward $0.1740. The next major stop for the bulls might be $0.180. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.1565 level, it could start a downside correction. Initial support on the downside is near the $0.1510 level. The next major support is near the $0.1480 level and the trend line. The main support sits at $0.1450 and the 50% Fib retracement level of the upward move from the $0.1330 swing low to the $0.1565 high. If there is a downside break below the $0.1450 support, the price could decline further. In the stated case, the price might slide toward the $0.1380 level or even $0.1330 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1510 and $0.1480. Major Resistance Levels – $0.1565 and $0.1600.