DOGE Price Update
Recently, Dogecoin has shown a positive trend, climbing higher from the $0.0980 support zone. The price is currently trading above the $0.1050 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support near $0.1050 on the hourly chart of the DOGE/USD pair sourced from Kraken. This indicates a potential for a fresh increase above the $0.1080 resistance zone, presenting new opportunities for traders.
Dogecoin Price Starts Fresh Increase
Over the past few sessions, Dogecoin’s price has seen a noteworthy increase from the $0.0950 zone, similar to movements seen in Bitcoin and Ethereum. The price successfully surpassed key resistance levels at $0.100 and $0.1020, with bulls managing to push it above $0.1050 and the 100-hourly simple moving average. Although a high was established at $0.1079, a slight pullback followed as the price dipped below $0.1060.
- Bulls active near the $0.1040 level, protecting the 61.8% Fib retracement level
- Key bullish trend line with support near $0.1050 on the hourly chart
- Immediate resistance at $0.1072, with major resistance near $0.1080
- Potential for price to reach $0.1120 and further gains towards $0.1200 and $0.1350
More Downsides In DOGE?
Should DOGE’s price fail to surpass the $0.1080 level, a downside correction may be imminent. Initial support is anticipated near the $0.1055 level, followed by more significant support at $0.1035. The primary support level rests at $0.1020, and a break below this could trigger further decline towards $0.0950 or even $0.0920 in the short term.
Technical Indicators
- Hourly MACD – Momentum shifting towards the bullish zone
- Hourly RSI (Relative Strength Index) – Above the 50 level
- Major Support Levels – $0.1035 and $0.1020
- Major Resistance Levels – $0.1080 and $0.1120
Hot Take: DOGE’s Future Trajectory
With Dogecoin poised for a potential upswing based on recent price movements, traders should remain vigilant for key resistance levels to gauge future price actions. Factors such as support levels, technical indicators, and market sentiment will play crucial roles in determining DOGE’s trajectory in the coming days.
Sources:
[Kraken](https://www.kraken.com/)
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