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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Charted: Dogecoin (DOGE) Eyes Fresh Surge Towards $0.40

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Dogecoin

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Dogecoin started a fresh increase from the $0.2500 support against the US Dollar. DOGE is rising and the bulls seem to be eyeing an upside break above the $0.3500 resistance

  • DOGE is holding the ground above the $0.3000 and $0.2800 levels against the US dollar.
  • The price is trading nicely above the $0.3000 support and the 100 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.2950 on the 4-hours chart of the DOGE/USD pair (data source from Bitfinex).
  • The pair could start a strong rally once it clears the $0.3350 and $0.3500 resistance levels.

Dogecoin Eyes Fresh Surge

After forming a base above the $0.2000 and $0.2200 levels, dogecoin started a steady increase, similar to ethereum and unlike bitcoin. It broke many important hurdles near the $0.3000 level.

DOGE even settled above the $0.3000 support and the 100 simple moving average (4-hours). It spiked towards the $0.3500 level, where the bears took a stand. A high was formed near $0.3455 before the price started a downside correction.

There was a break below the $0.3200 support zone. The price declined below the 23.6% Fib retracement level of the recent surge from the $0.2562 swing low to $0.3455 high.

Dogecoin (DOGE)

Source: DOGEUSD on TradingView.com

However, the bulls remained active near the $0.3000 support zone. It also found support near the 50% Fib retracement level of the recent surge from the $0.2562 swing low to $0.3455 high. More importantly, there is a major bullish trend line forming with support near $0.2950 on the 4-hours chart of the DOGE/USD pair.

The price is rising and an immediate resistance is near the $0.3320 level. The main resistance is still near the $0.3500 level. A successful break above the $0.3500 level could lead the price towards the $0.4000 level in the near term.

Dips Supported in DOGE

If DOGE price fails to continue higher above $0.3320 or $0.3500, there could be a fresh decline. The first key support is near the $0.3200 level.

The next major support is near the $0.3000 level and the bullish trend line. Any more losses may perhaps open the doors for a move towards the $0.2500 support zone.

Technical Indicators

4-Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.3200, $0.3000 and $0.2500.

Major Resistance Levels – $0.3320, $0.3500 and $0.4000.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
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