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Dogecoin (DOGE) Rally Isn’t Fading Yet—Here’s What’s Keeping It Alive

Dogecoin began a serious enhance above $0.150 towards the US Dollar. DOGE is now consolidating and may decline if it trades beneath $0.1450.

  • DOGE worth began a contemporary enhance above $0.1450 and $0.150.
  • The worth is buying and selling above the $0.150 stage and the 100-hourly easy shifting common.
  • There is a bullish development line forming with assist at $0.150 on the hourly chart of the DOGE/USD pair (knowledge supply from Kraken).
  • The worth may goal for a contemporary enhance if it stays secure above $0.1450.

Dogecoin Price Consolidates Gains

Dogecoin worth began a contemporary enhance after it settled above $0.1320, like Bitcoin and Ethereum. DOGE climbed above the $0.140 resistance to enter a optimistic zone.

The bulls had been capable of push the value above $0.150. A high was shaped at $0.1541 and the value is now correcting some positive factors. There was a transfer towards the 23.6% Fib retracement stage of the upward transfer from the $0.1156 swing low to the $0.1541 high.

Dogecoin worth is now buying and selling above the $0.150 stage and the 100-hourly easy shifting common. Besides, there’s a bullish development line forming with assist at $0.150 on the hourly chart of the DOGE/USD pair.

If there may be one other enhance, quick resistance on the upside is close to the $0.1540 stage. The first main resistance for the bulls could possibly be close to the $0.1550 stage. The subsequent main resistance is close to the $0.1620 stage. An in depth above the $0.1620 resistance may ship the value towards $0.1750. Any extra positive factors may ship the value towards $0.180. The subsequent main cease for the bulls may be $0.1840.

Downside Break In DOGE?

If DOGE’s worth fails to climb above the $0.1550 stage, it may begin a draw back correction. Initial assist on the draw back is close to the $0.150 stage and the development line. The subsequent main assist is close to the $0.145 stage.

The fundamental assist sits at $0.1420. If there’s a draw back break beneath the $0.1420 assist, the value may decline additional. In the said case, the value may slide towards the $0.1350 stage and even $0.1320 within the close to time period.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum within the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 stage.

Major Support Levels – $0.150 and $0.1450.

Major Resistance Levels – $0.1540 and $0.1550.

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