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Dogecoin (DOGE) Knocked Back From Resistance—Can Bulls Regain Control?

Dogecoin began a restoration wave above the $0.140 zone towards the US Dollar. DOGE is now going through hurdles close to $0.1450 and may battle to proceed greater.

  • DOGE value began a good upward transfer above $0.140 and $0.1410.
  • The value is buying and selling above the $0.140 stage and the 100-hourly easy shifting common.
  • There is a bullish pattern line forming with help at $0.1405 on the hourly chart of the DOGE/USD pair (information supply from Kraken).
  • The value might prolong losses if it stays beneath $0.140 and $0.1380.

Dogecoin Price Faces Resistance

Dogecoin value began a restoration wave from the $0.1350 zone, like Bitcoin and Ethereum. DOGE climbed above the $0.1380 and $0.140 resistance ranges.

There was a good upward transfer above the 23.6% Fib retracement stage of the downward transfer from the $0.1532 swing high to the $0.1351 low. However, the bears appear to be energetic close to the $0.1440 and $0.1450 ranges. Dogecoin value is now buying and selling above the $0.1410 stage and the 100-hourly easy shifting common. There can also be a bullish pattern line forming with help at $0.1405 on the hourly chart of the DOGE/USD pair.

If there’s a restoration wave, speedy resistance on the upside is close to the $0.1450 stage and the 50% Fib retracement stage of the downward transfer from the $0.1532 swing high to the $0.1351 low. The first main resistance for the bulls might be close to the $0.1490 stage.

The subsequent main resistance is close to the $0.1530 stage. A detailed above the $0.1530 resistance may ship the value towards the $0.1620 resistance. Any extra positive aspects may ship the value towards the $0.170 stage. The subsequent main cease for the bulls is perhaps $0.1720.

Another Decline In DOGE?

If DOGE’s value fails to climb above the $0.1450 stage, it might proceed to maneuver down. Initial help on the draw back is close to the $0.140 stage and the pattern line. The subsequent main help is close to the $0.1380 stage.

The most important help sits at $0.1350. If there’s a draw back break beneath the $0.1350 help, the value might decline additional. In the said case, the value may slide towards the $0.1265 stage and even $0.1250 within the close to time period.

Technical Indicators

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

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

Major Support Levels – $0.1400 and $0.1350.

Major Resistance Levels – $0.1450 and $0.1530.

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