Dogecoin price is expected to soar again
Dogecoin is strongly consolidating! Breaking multiple resistances, will the next step challenge higher points?
Dogecoin (DOGE) price is consolidating above the $0.320 area, echoing the movements of Bitcoin and Ethereum. Currently, DOGE has built solid support above $0.350 and is gradually climbing up.
The price has successfully broken through the key resistance levels of $0.3550 and $0.3620, climbing to the 23.6% Fibonacci retracement level of the downtrend from the high of $0.4342 to the low of $0.3400. More excitingly, the DOGE/USD hourly chart shows that the price has broken through the bearish trendline resistance at $0.3670!
Currently, DOGE is oscillating around $0.3750, supported by the 100-hour simple moving average.
In the short term, the upward resistance level is in the $0.3720 area, and further breakthroughs may trigger a new wave of upward momentum!
Dogecoin is poised for action! After breaking the key resistance at $0.3880, can it shoot straight to $0.50?
The next major resistance for DOGE is set at $0.3880, corresponding to the 50% Fibonacci retracement level from the downtrend between the high of $0.4342 and the low of $0.3400. If the price successfully closes above $0.3880, the next target will be aimed directly at the $0.400 mark!
If the bulls continue to push, DOGE may further challenge $0.4200, even testing the ultimate threshold of bullish ambition - $0.500. Each step up will bring new breakout points to the market, so be ready to embrace the next surge!
Is the decline of DOGE limited?
DOGE Alert! If it cannot break through $0.3720, the downside risk will soon explode!
If DOGE fails to break through the key resistance level of $0.3720, the price may start to correct, with initial support seen at $0.3650, followed closely by $0.3500.
If it further declines, $0.320 will become the key support level, and once it falls below this point, the price may accelerate downward, potentially dropping to $0.300 or even $0.2950 in the short term. Market volatility is increasing, invest cautiously, and closely monitor the market direction!
