Dogecoin started a new increase above $ 0.1650 zone against the US dollar. Doge consolidates now and can strive for a movement above $ 0.1720.
- DOGE -Price started a new increase above the levels of $ 0.1620 and $ 0.1650.
- The price acts above the level of $ 0.1650 and the 100-hour simple advancing average.
- There was a break above an important bearish trend line with resistance at $ 0.1640 on the hour table of the Doge/USD pair (data source of Kraken).
- The price can start a new decrease if it remains below $ 0.1720 zone and $ 0.1800.
Dogecoin price is confronted with obstacles
Dogecoin price started a new increase compared to the $ 0.1565 zone, such as Bitcoin and Ethereum. Doge was able to climb above the resistance levels of $ 0.1600 and $ 0.1620.
The bulls even pushed the price above the $ 0.170 resistance. Moreover, there was a break over an important bearish trend line with resistance at $ 0.1640 on the hour table of the Doge/USD pair. A high was formed at $ 0.1726 and the price is now consolidating. There was a small decrease below the 23.6% FIB racement level of the upward movement of the $ 0.1565 Swing low to $ 0.1726 High.
Dogecoin price is now being traded above the level of $ 0.1650 and the 100-hour simple advancing average. Immediate resistance at the top is near the level of $ 0.1710. The first major resistance for the bulls can be near the level of $ 0.1720.
The next major resistance is near the level of $ 0.1750. A close -up resistance of $ 0.1750 can send the price to the $ 0.180 resistance. More profits can send the price to the level of $ 0.200. The next big stop for the bulls can be $ 0.2120.
Another decline of doge?
If the price of doge does not climb above the level of $ 0.1720, this can start a new decrease. The first support on the disadvantage is close to the $ 0.1650 level or the 50% FIB retracement level of the upward movement of the $ 0.1565 Swing low to $ 0.1726 high. The next major support is near the level of $ 0.1620.
The most important support is at $ 0.1560. If there is a disadvantage under the support of $ 0.1560, the price can fall further. In the case mentioned, the price can fall to the level of $ 0.150 or even $ 0.1450 in the short term.
Technical indicators
Hourly MacD – The MACD for Doge/USD now loses momentum in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for Doge/USD is now above 50 -level.
Important support levels – $ 0.1650 and $ 0.1620.
Important resistance levels – $ 0.1720 and $ 0.1800.