Dogecoin started a new increase and climbed above $ 0.2420 zone against the US dollar. Doge now corrects profits and can start a different increase.
- DOGE -Price started a new increase above the levels of $ 0.2320 and $ 0.2420.
- The price acts above the level of $ 0.2420 and the 100-hour simple advancing average.
- There is a connecting bullish trend line that forms with support at $ 0.2460 on the hour table of the DOGE/USD pair (data source of Kraken).
- The price could start a new increase if it knew the $ 0.2550 resistance zone.
Dogecoin -Price extends winnings
Dogecoin price started a new increase after it had found support near $ 0.2220, such as Bitcoin and Ethereum. Doge climbed and recovered above the $ 0.2350 resistance zone.
The bulls even pushed the price above the $ 0.2420 resistance zone. However, the bears were active near the level of $ 0.2550. A high was formed at $ 0.2542 and the price now corrects some profit. There was a movement below the 23.6% FIB racement level of the upward movement of the $ 0.2227 Swing low to $ 0.2542 high.
Dogecoin price is now being traded above the level of $ 0.2450 and the 100-hour simple advancing average. There is also a connecting bullish trend line that forms with support for $ 0.2460 on the hour table of the DOGE/USD pair.
Immediate resistance at the top is near the level of $ 0.2550. The first major resistance for the bulls can be near the level of $ 0.2620. The next major resistance is near the level of $ 0.2650. A close -up resistance of $ 0.2680 can send the price to the $ 0.280 resistance. More profits can send the price to the level of $ 0.2840. The next big stop for the bulls can be $ 0.30.
Disadvantage correction in Doge?
If the price of doge does not climb above the level of $ 0.2550, this can start a decrease. The first support on the disadvantage is near the level of $ 0.2450 and the trend line. The next major support is close to the level of $ 0.2385 and the 50% FIB retracement level of the upward movement of the $ 0.2227 Swing low to $ 0.2542 High.
The most important support is at $ 0.2320. If there is a downward break under the support of $ 0.2320, the price can fall further. In the case mentioned, the price can fall to the level of $ 0.220 or even $ 0.2120 in the short term.
Technical indicators
MACD per hour – The MACD for Doge/USD is now gaining strength in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for Doge/USD is now above 50 -level.
Important support levels – $ 0.2450 and $ 0.2350.
Important resistance levels – $ 0.2550 and $ 0.2620.