Dogecoin (DOGE) Leaps Higher: Can The Momentum Last?
07 Outubro 2024 - 2:08AM
NEWSBTC
Dogecoin is recovering losses from the $0.1020 zone against the US
Dollar. DOGE is now showing positive signs and might clear the
$0.1165 resistance. DOGE price started a fresh increase above the
$0.1100 resistance level. The price is trading above the $0.1120
level and the 100-hourly simple moving average. There was a break
above a major bearish trend line with resistance at $0.1100 on the
hourly chart of the DOGE/USD pair (data source from Kraken). The
price could gain bullish momentum if it clears the $0.1165 and
$0.1180 resistance levels. Dogecoin Price Starts Recovery Dogecoin
price declined toward the $0.100 support. DOGE traded as low as
$0.1012 and recently started a fresh increase like Bitcoin and
Ethereum. There was a move above the $0.1060 and $0.1080 resistance
levels. The price surpassed the $0.1120 resistance level. There was
a break above a major bearish trend line with resistance at $0.1100
on the hourly chart of the DOGE/USD pair. It traded above the 23.6%
Fib retracement level of the downward wave from the $0.1320 swing
high to the $0.1012 low. Dogecoin price is now trading above the
$0.1120 level and the 100-hourly simple moving average. Immediate
resistance on the upside is near the $0.1165 level. It is close to
the 50% Fib retracement level of the downward wave from the $0.1320
swing high to the $0.1012 low. The next major resistance is near
the $0.1180 level. A close above the $0.1180 resistance might send
the price toward the $0.1240 resistance. Any more gains might send
the price toward the $0.1265 level. The next major stop for the
bulls might be $0.1320. Another Decline In DOGE? If DOGE’s price
fails to climb above the $0.1165 level, it could start another
decline. Initial support on the downside is near the $0.1120 level.
The next major support is near the $0.1100 level. The main support
sits at $0.1080. If there is a downside break below the $0.1080
support, the price could decline further. In the stated case, the
price might decline toward the $0.1020 level or even $0.0980 in the
near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD
is now gaining momentum in the bullish zone. Hourly RSI (Relative
Strength Index) – The RSI for DOGE/USD is now above the 50 level.
Major Support Levels – $0.1120 and $0.1080. Major Resistance Levels
– $0.1165 and $0.1240.
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