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 is rising above the $0.070 resistance against the US Dollar. DOGE could surge if there is a clear move above the $0.075 resistance zone.
- DOGE gained pace and traded above the $0.070 support against the US dollar.
- The price is trading below the $0.075 zone and the 100 simple moving average (4-hours).
- There is a crucial bearish trend line forming with resistance near $0.074 on the 4-hours chart of the DOGE/USD pair (data source from Kraken).
- The pair could start a major increase if there is a clear move above $0.0750.
Dogecoin Price Regains Traction
After a steady decline, dogecoin price found support near the $0.0625 zone. DOGE formed a base above the $0.0625 level and recently started a fresh increase, similar to bitcoin and ethereum.
There was a break above the $0.0650 and $0.0680 resistance levels. The bulls pumped the price above the $0.0700 resistance zone. Finally, it tested the $0.0750 resistance zone and the 100 simple moving average (4-hours). There is also a crucial bearish trend line forming with resistance near $0.074 on the 4-hours chart of the DOGE/USD pair.
DOGE price is trading below the $0.075 zone and the 100 simple moving average (4-hours). On the upside, the price is facing resistance near the $0.0740 level. It is near the 50% Fib retracement level of the main drop from the $0.0831 swing high to $0.0627 low.
The first major resistance is near the $0.0755 level. It is near the 61.8% Fib retracement level of the main drop from the $0.0831 swing high to $0.0627 low.
Source: DOGEUSD on TradingView.com
A clear move above the $0.0755 resistance might send the price towards the $0.080 resistance. Any more gains might send the price towards the $0.088 level. A clear move above the $0.088 resistance could open the gates for an increase towards the $0.092 level.
Dips Supported in DOGE?
If DOGE price fails to gain pace above the $0.075 level, it could start a downside correction. An initial support on the downside is near the $0.070 level.
The next major support is near the $0.0675 level. If there is a downside break below the $0.0675 support, the price could decline further. In the stated case, the price might decline towards the $0.0625 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 30 level.
Major Support Levels – $0.070, $0.0675 and $0.0625.
Major Resistance Levels – $0.0740, $0.0750 and $0.080.
