Dogecoin (DOGE) Advances Boldly—Is a Surge Just Around the Corner?
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 fresh increase from the $0.1950 zone against the US Dollar. DOGE is now consolidating and might aim for more gains above $0.2250.
- DOGE price started a fresh increase above the $0.2120 level.
- The price is trading above the $0.2150 level and the 100-hourly simple moving average.
- There is a key bullish trend line forming with support at $0.2150 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price could start a fresh upward move if it clears the $0.2250 and $0.2350 resistance levels.
Dogecoin Price Regains Traction
Dogecoin price started a fresh increase above the $0.2020 resistance zone, like Bitcoin and Ethereum . DOGE was able to clear the $0.2120 and $0.2150 resistance levels.
There was a clear move above the $0.220 level. Finally, the price tested $0.2250. A high is formed at $0.224 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.1956 swing low to the $0.2243 high.
Dogecoin price is now trading above the $0.220 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.2150 on the hourly chart of the DOGE/USD.
Source: DOGEUSD on TradingView.comImmediate resistance on the upside is near the $0.2250 level. The first major resistance for the bulls could be near the $0.2320 level. The next major resistance is near the $0.2420 level. A close above the $0.2420 resistance might send the price toward the $0.250 resistance. Any more gains might send the price toward the $0.2650 level. The next major stop for the bulls might be $0.2780.
Another Decline In DOGE?
If DOGE’s price fails to climb above the $0.2250 level, it could start a fresh decline. Initial support on the downside is near the $0.2175 level. The next major support is near the $0.2150 level.
The main support sits at $0.210 or the 50% Fib retracement level of the upward move from the $0.1956 swing low to the $0.2243 high. If there is a downside break below the $0.2150 support, the price could decline further. In the stated case, the price might decline toward the $0.2050 level or even $0.2020 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 – $0.2175 and $0.2150.
Major Resistance Levels – $0.2250 and $0.2320.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUILDon rallies as holders hit record 87,320 – Can B extend its gains?
Goldman Sachs Hedge Fund Chief: "Zero-Day Options" Suppress U.S. Stock Volatility, Technology and Energy Remain the Best Choices
The S&P 500 has experienced intraday fluctuations of less than 1% for 27 consecutive trading days, marking the longest period of low volatility since the pandemic. Goldman Sachs warns that this "calm" is the result of zero-day options strategies forcibly locking in the market, and once a catalyst emerges, the compressed volatility energy will be released all at once. Meanwhile, expectations for a rate hike in September are rising, market sentiment has dropped to its lowest point of the year, and fiscal sustainability risks loom large—is this pot of heating water going to boil for much longer?
Balancer eyes wind-down after restructuring fails to revive revenue
Is a new wave of sell-offs approaching? The ultimate rival of the AI bull market emerges—The "global anchor of asset pricing" breaks through the 5% super threshold
After the 10-year US Treasury yield breaks back above the critical 5% mark, it is more likely to usher in a period of high-level tug-of-war and accelerated asset differentiation. Especially before energy shocks and the significantly eased large-scale expansion of the US fiscal deficit, the conditions to quickly replicate the sharp yield decline seen at the end of 2023 are not yet fully in place.
Crypto prices
More
