DOGE Price Prediction – Dogecoin Could Restart Rally If It Holds This Support
02 Abril 2024 - 1:48AM
NEWSBTC
Dogecoin is correcting gains from the $0.230 zone against the US
Dollar. DOGE must stay above the $0.1750 support zone to start a
fresh increase. DOGE struggled to stay above $0.225 and corrected
gains against the US dollar. The price is trading above the $0.1750
level and the 100 simple moving average (4 hours). There was a
break below a key bullish trend line with support at $0.2040 on the
4-hour chart of the DOGE/USD pair (data source from Kraken). The
price could restart its increase unless there is a close below the
$0.1750 support. Dogecoin Price Approaches Key Support After a
steady increase, Dogecoin price attempted more gains above the
$0.230 zone. However, DOGE struggled above $0.2250. A high was
formed at $0.2294 and the price started a downside correction, like
Bitcoin and Ethereum. There was a drop below the $0.2050 and $0.200
support levels. The price dipped below the 23.6% Fib retracement
level of the upward move from the $0.1228 swing low to the $0.2294
high. Besides, there was a break below a key bullish trend line
with support at $0.2040 on the 4-hour chart of the DOGE/USD pair.
However, Dogecoin is still above the $0.1750 level and the 100
simple moving average (4 hours). Source: DOGEUSD on TradingView.com
On the upside, the price is facing resistance near the $0.1950
level. The next major resistance is near the $0.200 level. A close
above the $0.200 resistance might send the price toward the $0.2150
resistance. The next major resistance is near $0.2300. Any more
gains might send the price toward the $0.2500 level. More Downsides
in DOGE? If DOGE’s price fails to gain pace above the $0.200 level,
it could continue to move down. Initial support on the downside is
near the $0.1820 level. The next major support is near the $0.1750
level or the 50% Fib retracement level of the upward move from the
$0.1228 swing low to the $0.2294 high. If there is a downside break
below the $0.1750 support, the price could decline further. In the
stated case, the price might decline toward the $0.1480 level.
Technical Indicators 4 Hours MACD – The MACD for DOGE/USD is now
gaining momentum in the bearish zone. 4 Hours RSI (Relative
Strength Index) – The RSI for DOGE/USD is now below the 50 level.
Major Support Levels – $0.1820, $0.1750 and $0.1480. Major
Resistance Levels – $0.2000, $0.2150, and $0.2300.
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