Dogecoin (DOGE) Lifts Further, Momentum Points To More Gains

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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 $0.1050 against the US Dollar. DOGE is now consolidating and might aim for an upside break above $0.1150. - DOGE price started a fresh increase above $0.1150 and $0.120. - The price is trading above the $0.1085 level and the 100-hourly simple moving average. - There is a bullish trend line forming with support at $0.1085 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 $0.1150. Dogecoin Price Climbs Above $0.1120 Dogecoin price started a fresh increase after it settled above $0.10, like Bitcoin and Ethereum. DOGE climbed above the $0.1050 resistance to enter a positive zone. The bulls were able to push the price above $0.1120. A high was formed at $0.1137 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.1009 swing low to the $0.1137 high. Dogecoin price is now trading above the $0.1100 level and the 100-hourly simple moving average. There is also a bullish trend line forming with support at $0.1085 on the hourly chart of the DOGE/USD pair. If there is another increase, immediate resistance on the upside is near the $0.1135 level. The first major resistance for the bulls could be near the $0.1150 level. The next major resistance is near the $0.120 level. A close above the $0.120 resistance might send the price toward $0.1220. Any more gains might send the price toward $0.1250. The next major stop for the bulls might be $0.1320. Another Decline 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 $0.1100 level. The next major support is near the $0.1085 level or the trend line. The main support sits at $0.1075 and the 50% Fib retracement level of the upward move from the $0.1009 swing low to the $0.1137 high. 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 $0.1020 level or even $0.10 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 – $0.1085 and $0.1075 Major Resistance Levels – $0.1135 and $0.1150.

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