Blog

Dogecoin is gaining bullish momentum above the $0.062 resistance towards the US Dollar. DOGE might rally if it clears the 100 SMA (H4).

• DOGE is presently displaying optimistic indicators above $0.0620 resistance towards the US greenback.
• The worth is buying and selling beneath the $0.064 zone and the 100 easy transferring common (4 hours).
• There was a break above a key bearish development line with resistance close to $0.0620 on the 4-hours chart of the DOGE/USD pair (knowledge supply from Kraken).
• The pair might begin a recent rally if it clears the $0.064 resistance zone.

Dogecoin Price Could Rally 5%

After forming a base above the $0.0550 stage, Dogecoin’s worth began a good improve. DOGE was in a position to clear the $0.0580 and $0.060 resistance ranges.

In the previous two classes, there have been bullish strikes in Bitcoin and Ethereum, sparking a good improve in DOGE. The worth climbed above the 50% Fib retracement stage of the important thing decline from the $0.0715 swing excessive to the $0.0554 low.

Besides, there was a break above a key bearish development line with resistance close to $0.0620 on the 4-hours chart of the DOGE/USD pair. The pair is now buying and selling beneath the $0.064 zone and the 100 easy transferring common (4 hours).

On the upside, the value is dealing with resistance close to the 100 easy transferring common (4 hours). The first main resistance is close to the $0.0655 stage and the 61.8% Fib retracement stage of the important thing decline from the $0.0715 swing excessive to the $0.0554 low.

Source: DOGEUSD on TradingView.com

An in depth above the $0.0655 resistance would possibly ship the value towards the $0.0685 resistance. The subsequent main resistance is close to $0.070. Any extra positive factors would possibly ship the value towards the $0.072 stage.

Fresh Decline in DOGE?

If DOGE’s worth fails to realize tempo above the $0.0640 stage, it might begin a recent decline. Initial assist on the draw back is close to the $0.0625 stage.

The subsequent main assist is close to the $0.060 stage. If there’s a draw back break beneath the $0.0600 assist, the value might decline additional. In the acknowledged case, the value would possibly decline towards the $0.0550 stage.

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 stage.

Major Support Levels – $0.0625, $0.0600, and $0.0550.

Major Resistance Levels – $0.0640, $0.0655, and $0.0685.