#DOGE Price Forecast: Dogecoin's Rebound May Level Off Around $0.1770
When compared to the US dollar, Dogecoin is trying to ride a wave of recovery over the $0.150 resistance area. DOGE may find it difficult to break through the $0.1770 level of resistance.
The $0.1280 support zone was the starting point for DOGE's comeback wave vs the US dollar.
The $0.1280 level provided support for the Dogecoin price after a steep drop. Similar to Bitcoin and Ethereum, DOGE began a respectable rebound wave after forming a bottom at $0.1283. Resistance levels of $0.1350 and $0.140 were broken.
The price surged beyond the $0.1283 low, which is the 23.6% Fibonacci retracement mark of the falling wave that began at the $0.2093 swing high. But bears are still out there, and they're guarding even more gains. On the 4-hour chart of the DOGE/USD pair, a crucial negative trend line is also forming, with resistance around $0.170.
Both the $0.1650 mark and the 100-simple-moving-average are below Dogecoin's current price. The price is encountering upward resistance close to the $0.1690 mark, which is also the 50% Fibonacci retracement level of the down wave that began at the $0.2093 swing high and ended at the $0.1283 low.
The $0.170 level will serve as the next significant obstacle. The price can go toward the $0.1880 barrier if it closes above the $0.170 resistance. Proximity to $0.200 marks the next significant obstacle. If there are any more advances, the price can reach the $0.220 mark.
The price of DOGE can begin a new downward trend if it is unable to rise quickly enough above the $0.170 mark. The $0.1525 level is a potential first support level for a decline.
The level at $0.1475 is the next significant support. The price might fall even more if it breaks below the $0.1750 support level. The price may fall to about $0.1280 in the given scenario.
Period of 4 Hours RSI At this point in time, the DOGE/USD RSI is higher than 50.
The key support levels are $0.1525, $0.1475, and $0.1280.
The key levels of resistance are $0.1690, $0.1770, and $0.200.$DOGE