Dogecoin (DOGE) Eyes Acceleration: Will It Climb Higher?
19 Settembre 2024 - 7:18AM
NEWSBTC
Dogecoin started a fresh increase from the $0.0985 support against
the US Dollar. DOGE could gain pace if it clears the $0.1085
resistance. DOGE price is eyeing an upside break above $0.1085. The
price is trading above the $0.100 level and the 100-hourly simple
moving average. There was a break above a key bearish trend line
with resistance at $0.1030 on the hourly chart of the DOGE/USD pair
(data source from Kraken). The price could rally if it clears the
$0.1060 and $0.1085 resistance levels. Dogecoin Price Rises Again
After a steady decline, Dogecoin price found support near the
$0.0985 level. A base was formed, and DOGE started a decent upward
move like Bitcoin and Ethereum. There was a move above the $0.1020
and $0.1040 resistance levels. Besides, there was a break above a
key bearish trend line with resistance at $0.1030 on the hourly
chart of the DOGE/USD pair. The pair surpassed the 50% Fib
retracement level of the downward move from the $0.1084 swing high
to the $0.0985 low. Dogecoin price is now trading above the $0.1040
level and the 100-hourly simple moving average. Immediate
resistance on the upside is near the $0.1050 level. It is close to
the 61.8% Fib retracement level of the downward move from the
$0.1084 swing high to the $0.0985 low. The next major resistance is
near the $0.1060 level. A close above the $0.1060 resistance might
send the price toward the $0.1085 resistance. Any more gains might
send the price toward the $0.1150 level. The next major stop for
the bulls might be $0.1200. Another Rejection In DOGE? If DOGE’s
price fails to climb above the $0.1060 level, it could start
another decline. Initial support on the downside is near the
$0.1030 level and the same trend line. The next major support is
near the $0.1020 level. The main support sits at $0.0985. If there
is a downside break below the $0.0985 support, the price could
decline further. In the stated case, the price might decline toward
the $0.0920 level or even $0.0885 in the near term. Technical
Indicators Hourly MACD – The MACD for DOGE/USD is now gaining
momentum in the bullish zone. Hourly RSI (Relative Strength Index)
– The RSI for DOGE/USD is now above the 50 level. Major Support
Levels – $0.1030 and $0.1000. Major Resistance Levels – $0.1060 and
$0.1085.
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