Strong Support for Dogecoin: DOGE Ready for a Big Move!
Dogecoin is rising beyond $0.160 versus the US Dollar. DOGE is maintaining gains and may climb over $0.1650.
DOGE price is rising over $0.160 barrier.
The price is above $0.160 and the 100-hour SMA.
The hourly DOGE/USD chart shows a bullish trend line with support at $0.160.
To gather momentum and rise, the price must settle above $0.1650.
Dogecoin Maintains Support
Dogecoin, like Bitcoin and Ethereum, has been rising over $0.1500 for many sessions. DOGE bulls broke $0.160 barrier.
Before a negative reversal, the price reached $0.1646, its swing high. Dropped below $0.1620 support. Price surged below the 23.6% Fib retracement line of the $0.1571 swing low to $0.1646 high.
Above $0.160 and the 100-hourly simple moving average, Dogecoin is trading. The hourly DOGE/USD chart shows a bullish trend line with support at $0.160.
The price faces upward resistance at $0.1640. Near $0.1650 is the next big resistance. A closing above $0.1650 might push pricing into $0.1720. More advances might push the price toward $0.1750. Bulls may halt at $0.1800 next.
DOGE Downside Correction?
DOGE may decrease again if it fails to get over $0.1650. The trend line and $0.160 provide first negative support. The upward rise from the $0.1571 swing low to the $0.1646 high is around the 50% Fib retracement level.
Near $0.1580 is the next important support. If the price breaks $0.1580, it might fall further. If so, the price may drop to $0.1520.
Tech Indicators
Hourly MACD - DOGE/USD MACD is losing bullish momentum.
Hourly RSI (Relative Strength Index): DOGE/USD is over 50.
Major Support Levels: $0.1620, $0.1600, $0.1580.
Major Resistance Levels: $0.1640, $0.1650, $0.1720.
