Dogecoin Price Analysis: Can DOGE Break $0.18 Resistance?
Note: This post may contain affiliate links, and we may earn a commission (with No additional cost for you) if you make a purchase via our link. See our disclosure for more info. The crypto world is constantly changing. This content is for informational purposes only and not financial, legal, or professional advice So, please verify the info on the cryptocurrency provider’s websites.
Dogecoin (DOGE) has shown recent upward momentum, climbing above the $0.1650 and $0.170 resistance levels, even surpassing a key bearish trend line at $0.1640. This increase follows a similar pattern observed in Bitcoin and Ethereum. The price currently consolidates around $0.1650, above the 100-hourly simple moving average. However, significant hurdles remain. The immediate resistance sits near $0.1710, with a major resistance level at $0.1720. Breaking above $0.1750 could propel DOGE towards $0.180 and potentially $0.200, with a further target at $0.2120. Conversely, failure to surpass $0.1720 could trigger another decline. Support levels are situated at $0.1650, $0.1620, and a crucial level at $0.1560. A break below $0.1560 might send the price down to $0.150 or even $0.1450. Technical indicators offer a mixed outlook. The hourly MACD is losing bullish momentum, while the RSI remains above 50, suggesting some strength. The overall price action indicates a battle between buyers and sellers, with the $0.180 level posing a significant challenge for Dogecoin's near-term trajectory. The $0.180 level is a key psychological barrier and breaking this resistance would signal a stronger bullish trend. The current consolidation phase is crucial in determining the next direction of the price. Traders should closely monitor the price action around the key support and resistance levels mentioned to make informed trading decisions.
(Source: https://www.newsbtc.com/analysis/doge/dogecoin-doge-bounces-0-180/)
