Dogecoin found support for $ 0.3050 and recovered some losses against the US dollar. Doge now rises and can strive for more profit above $ 0.350.
- DOGE -Price started a considerable increase above the levels of $ 0.315 and $ 0.320.
- The price is traded near the level of $ 0.3320 and the 100-hour simple advancing average.
- There was a break over a large bearish trend line with resistance at $ 0.330 on the hour table of the DOGE/USD pair (data source of Kraken).
- The price could start a new increase if it knew the resistance levels of $ 0.340 and $ 0.3480.
Dogecoin -Price strives higher
Dogecoin price started a new decrease in the $ 0.3850 resistance zone, in contrast to Bitcoin and Ethereum. Doge fell under the support levels of $ 0.3500 and $ 0.3350. It was even below $ 0.320.
A low point was formed at $ 0.3052 and the price is now rising above the 50% FIB retracement level of the downward movement of the $ 0.3599 Swing High to $ 0.3052 Low. There was a break above a large bearish trend line with resistance at $ 0.330 on the hour table of the DOGE/USD pair.
Dogecoin price is now being traded above the level of $ 0.330 and the 100-hour simple advancing average. Immediate resistance at the top is near the level of $ 0.3390 and 61.8% FIB retracement level of the downward movement of the $ 0.3599 Swing high to $ 0.3052 low.
The first major resistance for the bulls can be near the level of $ 0.3480. The next major resistance is near the level of $ 0.3550. A close -up resistance of $ 0.3550 can send the price to the $ 0.3660 resistance. More profits can send the price to the $ 0.3880 level. The next big stop for the bulls can be $ 0.40.
Another decline of doge?
If the price of doge does not climb above the level of $ 0.340, this can start a decrease. The first support on the disadvantage is near the level of $ 0.3250. The next major support is near the level of $ 0.3150.
The most important support is at $ 0.3150. If there is a downward break under the support of $ 0.3150, the price can fall further. In the case mentioned, the price can fall to the level of $ 0.3020 or even $ 0.300 in the nearest term.
Technical indicators
MACD per hour – The MACD for Doge/USD is now gaining strength in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for Doge/USD is now above 50 -level.
Important support levels – $ 0.3250 and $ 0.3150.
Important resistance levels – $ 0.3400 and $ 0.3480.
Credit : www.newsbtc.com
