DOGE bulls gain momentum for next move
Dogecoin rose beyond $0.350 versus the US Dollar again. DOGE is consolidating and may gain if it breaks $0.3880.
DOGE price rose over $0.350 and $0.3650.
The price is above $0.370 and the 100-hour SMA.
DOGE/USD broke above a negative trend line with resistance around $0.3825 on the hourly chart.
Price may gain momentum if it breaks $0.3880 and $0.3920 barrier.
Dogecoin Maintains Support
Like Bitcoin and Ethereum, Dogecoin rose from $0.3120. DOGE broke $0.3350 and $0.350. It cleared $0.3880 before falling.
Price is climbing from a low of $0.3750. Resistance at $0.380 was overcome. Additionally, the DOGE/USD hourly chart broke above a connecting bearish trend line with resistance around $0.3825.
The pair rose above the 50% Fib retracement of the $0.3986 swing high to $0.3750 low. Dogecoin is above $0.380 and the 100-hourly SMA.
Resistance on the upswing is approaching $0.3880, the 61.8% Fib retracement level of the decline from $0.3986 swing high to $0.3750 low. Bulls may see first resistance at $0.3920.
Near $0.40 is the next significant resistance. A closing above $0.40 might push pricing above $0.420. More advances might push the price toward $0.4380. Bulls may halt at $0.450 next.
Another DOGE Drop?
DOGE may fall again if it fails to get over $0.3880. Initial downside support is $0.380. Near $0.3750 is the next important support.
The major support is $0.3650. If the price breaks $0.3650, it might fall lower. The price may fall to $0.350 or $0.3420 in the short term.
Tech Indicators
DOGE/USD hourly MACD is losing momentum in the negative zone.
Hourly RSI (Relative Strength Index): DOGE/USD is over 50.
Key Support Levels: $0.380, $0.3750.
Key Resistance Levels: $0.3880, $0.3920.
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