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Dogecoin is gaining bullish momentum above the $0.070 resistance towards the US Dollar. DOGE may prolong its rally towards the $0.080 resistance zone.

• DOGE is at the moment displaying optimistic indicators above $0.068 resistance towards the US greenback.
• The value is buying and selling nicely above the $0.070 zone and the 100 easy shifting common (4 hours).
• There is a key bullish development line forming with assist close to $0.070 on the 4-hours chart of the DOGE/USD pair (information supply from Kraken).
• The pair may begin a recent rally if it clears the $0.0732 resistance zone.

Dogecoin Price Could Rally Over 10%

After a draw back correction, Dogecoin’s value discovered assist close to the $0.0680 zone. DOGE fashioned a base and just lately began a recent improve from $0.0675, outperforming Bitcoin and Ethereum.

In the previous two periods, there have been bullish strikes above the $0.070 resistance zone. The value climbed above the 50% Fib retracement degree of the downward transfer from the $0.0750 swing excessive to the $0.0670 low. DOGE is now buying and selling nicely above the $0.070 zone and the 100 easy shifting common (4 hours).

There can also be a key bullish development line forming with assist close to $0.070 on the 4-hours chart of the DOGE/USD pair. On the upside, the worth is going through resistance close to the $0.0732 degree.

Source: DOGEUSD on TradingView.com

The 76.4% Fib retracement degree of the downward transfer from the $0.0750 swing excessive to the $0.0670 low can also be close to the $0.0732 degree. The first main resistance is close to the $0.0750 degree. An in depth above the $0.0750 resistance may ship the worth towards the $0.0780 resistance. The subsequent main resistance is close to $0.080. Any extra positive factors may ship the worth towards the $0.082 degree.

Fresh Decline in DOGE?

If DOGE’s value fails to achieve tempo above the $0.0732 degree, it may begin a draw back correction. Initial assist on the draw back is close to the $0.070 degree and the development line.

The subsequent main assist is close to the $0.0675 degree. If there’s a draw back break under the $0.0675 assist, the worth may decline additional. In the acknowledged case, the worth may decline towards the $0.0650 degree.

Technical Indicators

4 Hours MACD – The MACD for DOGE/USD is now gaining momentum within the bullish zone.

4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 degree.

Major Support Levels – $0.070, $0.0675, and $0.0650.

Major Resistance Levels – $0.0732, $0.0750, and $0.080.