Dogecoin (DOGE) Targets Resistance, Bulls Eye Potential Upside Move

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 decent increase above $0.0920 against the US Dollar. DOGE is now consolidating and might aim for an upside break above $0.0955. DOGE price started a fresh increase above $0.0920 and $0.0925. The price is trading above the $0.0925 level and the 100-hourly simple moving average. There was a break above a bearish trend line with resistance at $0.0935 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 $0.0925. Dogecoin Price Aims Higher Dogecoin price started a fresh increase after it settled above $0.0920, like Bitcoin and Ethereum . DOGE climbed above the $0.0920 resistance to enter a positive zone. There was a break above a bearish trend line with resistance at $0.0935 on the hourly chart of the DOGE/USD pair. The bulls were able to push the price above $0.0940. A high was formed at $0.0957 and the price is now correcting some gains. There was a move below the 23.6% Fib retracement level of the upward move from the $0.0897 swing low to the $0.0957 high. Dogecoin price is now trading above the $0.0925 level and the 100-hourly simple moving average. If there is another increase, immediate resistance on the upside is near the $0.0950 level. The first major resistance for the bulls could be near the $0.0955 level. Source: DOGEUSD on TradingView.com The next major resistance is near the $0.0980 level. A close above the $0.0980 resistance might send the price toward $0.1020. Any more gains might send the price toward $0.1050. The next major stop for the bulls might be $0.1120. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.09550 level, it could start a downside correction. Initial support on the downside is near the $0.0928 level. The next major support is near the $0.0920 level or the 61.8% Fib retracement level of the upward move from the $0.0897 swing low to the $0.0957 high. The main support sits at $0.090. If there is a downside break below the $0.090 support, the price could decline further. In the stated case, the price might slide toward the $0.0880 level or even $0.0865 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 – $0.0925 and $0.0920. Major Resistance Levels – $0.0955 and $0.0980.