Dogecoin (DOGE) Momentum Appears Unstoppable: How Excessive Can It Go?

Dogecoin (DOGE) Momentum Appears Unstoppable: How Excessive Can It Go?

by Jeremy

Dogecoin began a contemporary surge above the $0.320 resistance in opposition to the US Greenback. DOGE is holding good points and eyeing extra upsides above $0.4180.

  • DOGE worth began a contemporary rally like Bitcoin and climbed above the $0.350 resistance stage.
  • The worth is buying and selling above the $0.3650 stage and the 100-hourly easy transferring common.
  • There’s a key bullish pattern line forming with assist at $0.3870 on the hourly chart of the DOGE/USD pair (knowledge supply from Kraken).
  • The worth might proceed to rally if it clears the $0.400 and $0.4150 resistance ranges.

Dogecoin Worth Eyes Contemporary Surge

Dogecoin worth began a contemporary surge after it cleared the $0.320 resistance like Bitcoin and Ethereum. DOGE was in a position to acquire tempo for a transfer above the $0.3800 and $0.400 resistance ranges.

The pair even surged above $0.4200. A excessive was fashioned at $0.4342 and the worth is now correcting good points. There was a transfer beneath the $0.40 stage. The worth dipped beneath the 50% Fib retracement stage of the upward transfer from the $0.3519 swing low to the $0.4342 excessive.

Nevertheless, the bulls are lively close to the $0.3850 zone. Dogecoin worth is now buying and selling above the $0.3650 stage and the 100-hourly easy transferring common. There may be additionally a key bullish pattern line forming with assist at $0.3870 on the hourly chart of the DOGE/USD pair. The pattern line is near the 61.8% Fib retracement stage of the upward transfer from the $0.3519 swing low to the $0.4342 excessive.

Dogecoin Price

Speedy resistance on the upside is close to the $0.400 stage. The subsequent main resistance is close to the $0.4150 stage. A detailed above the $0.4150 resistance would possibly ship the worth towards the $0.4320 resistance. Any extra good points would possibly ship the worth towards the $0.4500 stage. The subsequent main cease for the bulls may be $0.4650.

Are Dips Supported In DOGE?

If DOGE’s worth fails to climb above the $0.4150 stage, it might begin a draw back correction. Preliminary assist on the draw back is close to the $0.3870 stage and the pattern line. The subsequent main assist is close to the $0.3715 stage.

The principle assist sits at $0.3420. If there’s a draw back break beneath the $0.3420 assist, the worth might decline additional. Within the acknowledged case, the worth would possibly decline towards the $0.3150 stage and even $0.300 within the close to time period.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now dropping momentum within the bullish zone.

Hourly RSI (Relative Energy Index) – The RSI for DOGE/USD is now above the 50 stage.

Main Help Ranges – $0.3870 and $0.3715.

Main Resistance Ranges – $0.4000 and $0.4150.

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