Dogecoin (DOGE) Breaks Key Support, But Bulls Persist
Dogecoin fell below $0.1120 and corrected versus the USD.
DOGE bulls may push it higher around $0.1080.
DOGE is aiming over $0.1120.
The price is above $0.1080 and the 100-hour SMA.
DOGE/USD broke below a positive trend line with support around $0.1090 on the hourly chart.
The price might rise again if it breaks $0.1100 and $0.1120 barrier.
Dogecoin Price May Rise
Dogecoin price rose over $0.1100 barrier. It surged beyond $0.1110 before bears emerged. DOGE, like Bitcoin and Ethereum, corrected from $0.1111.
Price fell below $0.1100 and $0.1095. Price dropped below the 23.6% Fib retracement line of the $0.1037 swing low to $0.1111 high upward rise. Also, the DOGE/USD hourly chart broke below a positive trend line with support around $0.1090.
But bulls were aggressive near $0.1075. They defended the 50% Fib retracement of the $0.1037 swing low to $0.1111 high upward surge. Dogecoin is above $0.1080 and the 100-hourly SMA.
Near $0.1095 is immediate upward resistance. Near $0.1120 is the next big resistance. A closing above $0.1120 might push pricing into $0.1132. More advances might push the price toward $0.1150. Bulls may halt at $0.1200 next.
More DOGE losses?
DOGE's price might fall again if it fails to get beyond $0.1095. Initial downside support is $0.1080. Near $0.1065 is the next important support.
The major support is $0.1050. If the price breaks $0.1050, it might fall further. In this situation, the price may fall to $0.1000 or $0.0950 soon.
Major Support Levels: $0.1065, $0.1050.
Key Resistance Levels: $0.1095, $0.1120.
