Dogecoin's price is bouncing back from $0.1220 against the US Dollar. To continue rising, DOGE needs to surpass the $0.1650 barrier and aim for $0.200.
DOGE faced a significant drop and tested the $0.1220 support level against the US dollar. Currently, it is trading below $0.1650 and the 100 simple moving average over a 4-hour period.
However, there was a positive development as a bearish trend line was broken with resistance at $0.1310 on the 4-hour chart of the DOGE/USDT pair from Kraken.
If the price manages to break through the $0.1600 and $0.1650 resistance levels, it could gather momentum for a bullish move.