Dogecoin Price Pumps To $0.20, Can DOGE Bulls Send It To $0.25
05 Março 2024 - 1:48AM
NEWSBTC
Dogecoin is up over 100% against the US Dollar. DOGE rallied toward
the $0.20 resistance and might continue to rise toward the $0.225
resistance. DOGE extended its rally above the $0.150 resistance
against the US dollar. The price is trading above the $0.180 level
and the 100 simple moving average (4 hours). There is a connecting
bullish trend line forming with support at $0.1620 on the 4-hour
chart of the DOGE/USD pair (data source from Kraken). The price
could extend its rally above the $0.200 and $0.2120 resistance
levels. Dogecoin Price Surges Over 100% In the past few sessions,
Dogecoin price started a strong increase above the $0.10
resistance. DOGE cleared many hurdles near $0.1250 to enter a
positive zone. It even broke the $0.150 resistance and outperformed
Bitcoin and Ethereum. It is up over 100% in a few sessions and
traded close to the $0.20 resistance. A new multi-week high was
formed near $0.992 and the price is now correcting gains. The price
is well above the 23.6% Fib retracement level of the recent rally
from the $0.1250 swing low to the $0.1992 high. DOGE is also
trading above the $0.180 level and the 100 simple moving average (4
hours). There is also a connecting bullish trend line forming with
support at $0.1620 on the 4-hour chart of the DOGE/USD pair. The
trend line is near the 50% Fib retracement level of the recent
rally from the $0.1250 swing low to the $0.1992 high. Source:
DOGEUSD on TradingView.com On the upside, the price is facing
resistance near the $0.1980 level. The next major resistance is
near the $0.20 level. A close above the $0.20 resistance might send
the price toward the $0.2250 resistance. The next major resistance
is near $0.2320. Any more gains might send the price toward the
$0.250 level. Downside Correction in DOGE? If DOGE’s price fails to
gain pace above the $0.20 level, it could start a downside
correction. Initial support on the downside is near the $0.182
level. The next major support is near the $0.1620 level or the
trend line. If there is a downside break below the $0.1620 support,
the price could decline further. In the stated case, the price
might decline toward the $0.1350 level. Technical Indicators 4
Hours MACD – The MACD for DOGE/USD is now gaining momentum in the
bullish zone. 4 Hours RSI (Relative Strength Index) – The RSI for
DOGE/USD is now in the overbought zone. Major Support Levels –
$0.1820, $0.1620 and $0.1350. Major Resistance Levels – $0.1980,
$0.20, and $0.2250.
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