Dogecoin (DOGE) Rebound Stumbles, Opening Door To | Crypto News
Dogecoin began a recovery wave above the $0.10 zone against the US Dollar. DOGE is now going through hurdles close to $0.1065 and may wrestle to continue larger.
- DOGE price began a recovery wave from $0.095 and climbed above $0.10.
- The price is trading below the $0.110 stage and the 100-hourly simple shifting average.
- There was a break above a bearish development line with resistance at $0.1060 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price may continue to transfer up if it stays above $0.10.
Dogecoin Price Runs Into Resistance
Dogecoin price began a recovery wave from the $0.0950 zone, beating Bitcoin and Ethereum. DOGE climbed above the $0.10 and $0.1050 resistance ranges.
There was a respectable upward transfer above the 23.6% Fib retracement stage of the downward transfer from the $0.1185 swing high to the $0.0948 low. Besides, there was a break above a bearish development line with resistance at $0.1060 on the hourly chart of the DOGE/USD pair.
However, the bears are lively close to the $0.1065 stage and the 50% Fib retracement stage of the downward transfer from the $0.1185 swing high to the $0.0948 low. Dogecoin price is now trading below the $0.1065 stage and the 100-hourly simple shifting average.
If there may be another recovery wave, fast resistance on the upside is close to the $0.1060 stage. The first major resistance for the bulls might be close to the $0.1065 stage. The next major resistance is close to the $0.1120 stage. A close above the $0.1120 resistance may ship the price toward the $0.1185 resistance. Any more positive factors may ship the price toward the $0.120 stage. The next major stop for the bulls could be $0.1250.
Another Decline In DOGE?
If DOGE’s price fails to climb above the $0.1065 stage, it may continue to transfer down. Initial assist on the draw back is close to the $0.10 stage. The next major assist is close to the $0.0980 stage.
The main assist sits at $0.0950. If there may be a draw back break below the $0.0950 assist, the price may decline additional. In the acknowledged case, the price may slide toward the $0.0880 stage or even $0.0850 in the close to time period.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 stage.
Major Support Levels – $0.1000 and $0.0950.
Major Resistance Levels – $0.1065 and $0.1120.
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