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Dogecoin (DOGE) Resilient Above $0.20 – Can Momentum Shift Toward Fresh Upside?

Dogecoin began a recent improve above the $0.20 zone in opposition to the US Dollar. DOGE is now consolidating and may intention for extra positive aspects if it clears $0.2180.

  • DOGE value began a recent upward transfer above $0.20 and $0.2050.
  • The value is buying and selling above the $0.20 stage and the 100-hourly easy shifting common.
  • There is a bullish pattern line forming with help at $0.1980 on the hourly chart of the DOGE/USD pair (information supply from Kraken).
  • The value might intention for extra positive aspects if it stays secure above $0.1880.

Dogecoin Price Eyes Fresh Upside

Dogecoin value began a recent improve after it settled above $0.1880, like Bitcoin and Ethereum. DOGE climbed above the $0.20 resistance to enter a constructive zone.

The bulls have been capable of push the worth above $0.2050 and $0.2120. A high was fashioned at $0.2182 and the worth is now correcting positive aspects. There was a transfer under the 50% Fib retracement stage of the latest wave from the $0.1787 swing low to the $0.2182 high.

Dogecoin value is now buying and selling above the $0.20 stage and the 100-hourly easy shifting common. Besides, there’s a bullish pattern line forming with help at $0.1980 on the hourly chart of the DOGE/USD pair.

If there may be one other improve, instant resistance on the upside is close to the $0.2085 stage. The first main resistance for the bulls may very well be close to the $0.2120 stage. The subsequent main resistance is close to the $0.2180 stage. A detailed above the $0.2180 resistance may ship the worth towards $0.2320. Any extra positive aspects may ship the worth towards $0.250. The subsequent main cease for the bulls may be $0.2620.

Another Decline In DOGE?

If DOGE’s value fails to climb above the $0.2120 stage, it might begin a draw back correction. Initial help on the draw back is close to the $0.20 stage. The subsequent main help is close to the $0.1980 stage and the pattern line.

The primary help sits at $0.1880. If there’s a draw back break under the $0.1880 help, the worth might decline additional. In the acknowledged case, the worth may slide towards the $0.1720 stage and even $0.1650 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 under the 50 stage.

Major Support Levels – $0.1980 and $0.1880.

Major Resistance Levels – $0.2120 and $0.2180.

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