Dogecoin (DOGE) Breaks Away From Pack As Momentum Turns Aggressive

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Reason to trust 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 $0.1125 against the US Dollar. DOGE is now consolidating and might aim for an upside break above $0.1155. - DOGE price started a fresh increase above $0.1120 and $0.1135. - The price is trading above the $0.1120 level and the 100-hourly simple moving average. - There is a contracting triangle forming with support at $0.1115 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 $0.110. Dogecoin Price Climbs Above $0.1150 Dogecoin price started a fresh increase after it settled above $0.110, outperforming Bitcoin and Ethereum. DOGE climbed above the $0.1120 resistance to enter a positive zone. The bulls were able to push the price above $0.1150. A high was formed at $0.1153 and the price is now consolidating. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $0.1095 swing low to the $0.1153 high. Dogecoin price is now trading above the $0.1120 level and the 100-hourly simple moving average. There is also a contracting triangle forming with support at $0.1115 on the hourly chart of the DOGE/USD pair. If there is another increase, immediate resistance on the upside is near the $0.1140 level. The first major resistance for the bulls could be near the $0.1150 level. The next major resistance is near the $0.1165 level. A close above the $0.1165 resistance might send the price toward $0.120. Any more gains might send the price toward $0.1220. The next major stop for the bulls might be $0.1250. Downside Correction In DOGE? If DOGE’s price fails to climb above the $0.1150 level, it could start a downside correction. Initial support on the downside is near the $0.1115 level, the triangle, and the 61.8% Fib retracement level of the upward move from the $0.1095 swing low to the $0.1153 high. The next major support is near the $0.110 level. The main support sits at $0.1075. If there is a downside break below the $0.1075 support, the price could decline further. In the stated case, the price might slide toward the $0.1030 level or even $0.1020 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 – $0.1115 and $0.1100 Major Resistance Levels – $0.1150 and $0.1200.

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