DOGECOIN PRICE AIMS HIGHER

In the past few sessions, Dogecoin price started a decent increase from the $0.082 support zone. DOGE cleared many hurdles near $0.0850 to enter a positive zone.

There was a break above a key contracting triangle with resistance at $0.0842 on the 4-hour chart of the DOGE/USD pair. It even broke the $0.0880 resistance to move further into a positive zone like Bitcoin and Ethereum. A high was formed near $0.0914 and the price is now correcting gains.

There was a move below the 23.6% Fib retracement level of the recent wave from the $0.0820 swing low to the $0.0914 high. DOGE is also trading above the $0.0875 level and the 100 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.0892 level. The next major resistance is near the $0.0915 level. A close above the $0.0915 resistance might send the price toward the $0.095 resistance. The next major resistance is near $0.100. Any more gains might send the price toward the $0.120 level.

DOWNSIDE CORRECTION IN DOGE?

If DOGE’s price fails to gain pace above the $0.0915 level, it could start a downside correction. Initial support on the downside is near the $0.0865 level.

The next major support is near the $0.0855 level or the 61.8% Fib retracement level of the recent wave from the $0.0820 swing low to the $0.0914 high.

If there is a downside break below the $0.0855 support, the price could decline further. In the stated case, the price might decline toward the $0.0820 level.#Write2Earn #Dogecoins