Dogecoin (DOGE) Aims for $0.150: Will the Rebound Take Off?
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The Dogecoin to USD exchange rate has broken through the $0.1350 resistance level. Dogecoin is currently showing positive signs and may break through the $0.1450 resistance level.
The DOGE price has started to break through the $0.1320 resistance level and is on the rise again. The price is trading above $0.1350 and the 100-hour simple moving average. A key bullish trend line has formed on the hourly chart of the DOGE/USD pair, with support at $0.1420 (data source: Kraken). If the price breaks through the $0.1450 and $0.1465 resistance levels, it may gain bullish momentum.
Dogecoin Price Expected to Rise Further
The Dogecoin price has begun a new round of increases above the $0.1200 resistance area. The price of Dogecoin has risen above the $0.1320 resistance area, surpassing Bitcoin and Ethereum. The price of Dogecoin has also broken through the $0.1350 and $0.1400 resistance levels.
The highest trading price was $0.1467, with a recent slight downward correction. The price has dropped below the level of $0.1420. It is trading below the 23.6% Fibonacci retracement level from the swing low of $0.1206 to the high of $0.1467.
However, bulls remain active above $0.1350. A key bullish trend line has also formed on the hourly chart of the DOGE/USD pair, with support at $0.1420. The Dogecoin price is currently trading above $0.1320 and the 100-hour simple moving average. The immediate resistance level on the upside is around $0.1465. The next major resistance level is around $0.1480.
If the closing price breaks above the $0.1480 resistance level, it could push the price towards the $0.1520 resistance level. If the price continues to rise, it may push towards the $0.1550 level. The next major stop-loss point for bulls might be $0.1585.
Does DOGE Support Dips?
If the price of DOGE fails to break through the $0.1465 level, it may decline again. The initial support level on the downside is around $0.1420. The next major support level is around $0.1400.
