🔥💥DOGE Price Prediction – Dogecoin Could Restart Its Rise If It Holds This Support
#Dogecoin is correcting gains from the $0.230 zone against the US Dollar. #DOGE must stay above the $0.1750 support zone to start a new increase.
DOGE struggled to stay above $0.225, trimming gains against the U.S. dollar.
The price is trading above the $0.1750 level and the 100 simple moving average (4 hours).
There was a break below a significant uptrend line with $0.2040 support on the 4-hour chart of the DOGE / USD pair (data source from Kraken).
It can restart the price increase unless there is a close below the $0.1750 support.
Dogecoin Price Is Approaching Basic Support
After a steady increase, the Dogecoin price tried to make more gains above the $0.230 zone. DOGE, however, struggled above $0.2250. a high value was formed at $0.2294 and the price began a downward correction like Bitcoin and Ethereum.
In addition, there was a break below the key uptrend trend line with support at the $0.2040 level on the 4-hour chart of the DOGE/ USD pair. However, Dogecoin is still above the $0.1750 level and the 100 simple moving average (4 hours).
On the other hand, the price is facing resistance near the $0.1950 level. The next big resistance is near the $0.200 level. A closing price above the $0.200 resistance could send it towards the $0.2150 resistance. The next big resistance is near $0.2300. Further gains could send the price towards the $0.2500 level.
Is there more Negativity in the DOGE?
If the price of the DOGE fails to break above the $0.200 level, it may continue to move downwards. The initial support on the downside is close to the $0.1820 level.
The next big support is near the $0.1750 level or the 50% Fib retracement level of the upward movement from the low of $0.1228 to the high of $0.2294. If there is a downside break below the $0.1750 support, the price may fall further. In the specified case, the price may decline towards the $ 0.1480 level.
