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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Dogecoin Price (DOGE) Jumps 10% – Here’s Why The Bulls Could Aim $0.085

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Dogecoin

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Dogecoin is gaining bullish momentum above the $0.075 resistance against the US Dollar. DOGE could extend its rally toward the $0.085 resistance zone.

  • DOGE is currently trading in a bullish zone above $0.072 resistance against the US dollar.
  • The price is trading well above the $0.075 zone and the 100 simple moving average (4 hours).
  • There is a major bullish trend line forming with support near $0.0725 on the 4-hours chart of the DOGE/USD pair (data source from Kraken).
  • The price is up nearly 10% and might extend its increase above $0.080.

Dogecoin Price Gains Strength

In the last Dogecoin price prediction, we discussed how DOGE could surge 10%. The price did form a base above the $0.0680 level and started a fresh rally.

The price cleared the $0.072 and $0.0725 resistance levels, outperforming Bitcoin and Ethereum. It is up over 10% and trading near the $0.0780 resistance. A high is formed near $0.0780 and the price is now consolidating gains.

DOGE is trading well above the $0.0725 zone and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.0725 on the 4-hours chart of the DOGE/USD pair. The pair is now trading above the 23.6% Fib retracement level of the recent rally from the $0.0695 swing low to the $0.0780 high.

Dogecoin Price (DOGE)

Source: DOGEUSD on TradingView.com

On the upside, the price is facing resistance near the $0.0780 level. The first major resistance is near the $0.080 level. A close above the $0.080 resistance might send the price toward the $0.0820 resistance. The next major resistance is near $0.0832. Any more gains might send the price toward the $0.085 level.

Are Dips Limited in DOGE?

If DOGE’s price fails to gain pace above the $0.0780 level, it could start a downside correction. Initial support on the downside is near the $0.0760 level.

The next major support is near the $0.0725 level and the trend line. If there is a downside break below the $0.0725 support, the price could decline further. In the stated case, the price might decline toward the $0.070 level.

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 – $0.0765, $0.0725, and $0.070.

Major Resistance Levels – $0.0780, $0.080, and $0.085.

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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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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

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