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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Dogecoin Price (DOGE) Breaking This Resistance Could Spark Fresh Surge

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Dogecoin

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Dogecoin is showing positive signs above the $0.075 resistance against the US Dollar. DOGE could extend its rally if it breaks the $0.0835 resistance zone.

  • DOGE is currently trading in a bullish zone above $0.075 resistance against the US dollar.
  • The price is trading well above the $0.0765 zone and the 100 simple moving average (4 hours).
  • There is a major bullish trend line forming with support near $0.0760 on the 4-hours chart of the DOGE/USD pair (data source from Kraken).
  • The price could start another increase if it clears $0.0820 and $0.0835.

Dogecoin Price Remains In Uptrend

In the last Dogecoin price prediction, we discussed how DOGE rallied over 10%. The price extended its increase above the $0.0820 resistance, outperforming Bitcoin and Ethereum.

Finally, it tested the $0.0840 zone. A high was formed near $0.0837 and recently there was a downside correction. There was a minor decline below the $0.080 level. The price traded below the 23.6% Fib retracement level of the upward move from the $0.0695 swing low to the $0.0837 high.

However, the bulls were active near the $0.0765 support. DOGE is trading well above the $0.0765 zone and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.0760 on the 4-hours chart of the DOGE/USD pair.

Dogecoin Price (DOGE)

Source: DOGEUSD on TradingView.com

On the upside, the price is facing resistance near the $0.080 level. The first major resistance is near the $0.082 level. A close above the $0.082 resistance might send the price toward the $0.0835 resistance. The next major resistance is near $0.0855. Any more gains might send the price toward the $0.088 level.

Are Dips Limited in DOGE?

If DOGE’s price fails to gain pace above the $0.0820 level, it could continue to move down. Initial support on the downside is near the $0.0765 level.

The next major support is near the $0.0760 level and the trend line. If there is a downside break below the $0.0760 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 losing 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, $0.0760, and $0.072.

Major Resistance Levels – $0.080, $0.082, and $0.0835.

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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.

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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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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
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