Dogecoin (DOGE) Rebound Stumbles, Opening Door To Another Selloff
Analysis
Price Impact
MedDoge is at a critical juncture, facing significant resistance near $0.1095 - $0.1120. a clear move above or below key levels ($0.1020 support) will determine the next substantial price action.
Trustworthiness
HighThe source explicitly states adherence to 'strict editorial policy that focuses on accuracy, relevance, and impartiality,' 'created by industry experts and meticulously reviewed,' and 'the highest standards in reporting and publishing.'
Price Direction
NeutralWhile technical indicators (macd, rsi) show bullish momentum, doge is currently 'stumbling' and facing strong resistance. the article presents clear scenarios for both upward movement (above $0.1120) and downward movement (below $0.1040 and especially $0.0950), placing it at a decisive point.
Time Effect
ShortThe analysis is based on hourly charts and immediate resistance/support levels, with projections for 'near term' price movements.
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 recovery wave above the $0.1050 zone against the US Dollar. DOGE is now facing hurdles near $0.1120 and might struggle to continue higher. DOGE price started a recovery wave from $0.095 and climbed above $0.1050. The price is trading above the $0.1060 level and the 100-hourly simple moving average. There is a key rising channel forming with support at $0.1035 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to move up if it stays above $0.1020. Dogecoin Price Aims Higher Dogecoin price started a recovery wave from the $0.0950 zone, beating Bitcoin and Ethereum . DOGE climbed above the $0.1020 and $0.1050 resistance levels. There was a decent upward move above the 50% Fib retracement level of the downward move from the $0.1185 swing high to the $0.0950 low. Besides, there is a key rising channel forming with support at $0.1035 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.1060 level and the 100-hourly simple moving average. If there is another recovery wave, immediate resistance on the upside is near the $0.1095 level or the 61.8% Fib retracement level of the downward move from the $0.1185 swing high to the $0.0950 low. Source: DOGEUSD on TradingView.com The first major resistance for the bulls could be near the $0.1120 level. The next major resistance is near the $0.1145 level. A close above the $0.1145 resistance might send the price toward the $0.1185 resistance. Any more gains might send the price toward the $0.120 level. The next major stop for the bulls might be $0.1250. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.1120 level, it could continue to move down. Initial support on the downside is near the $0.1040 level. The next major support is near the $0.10 level. The main support sits at $0.0950. If there is a downside break below the $0.0950 support, the price could decline further. In the stated case, the price might slide toward the $0.0880 level or even $0.0850 in the near term. 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 – $0.1040 and $0.1000. Major Resistance Levels – $0.1095 and $0.1120.