Dogecoin began a recovery wave above the zone 0.250 USD in relation to the American dollar. Doge is now consolidating and can face obstacles near 0.2655 USD.
- Doge Price began a recovery wave above 0.2500 USD and USD 0.2520.
- The price is sold above 0.250 USD and 100-hour straight movable average.
- There was a break over the connecting bear trend line with a resistance of USD 0.2515 at the Doge/USD hour chart (data source from Kraken).
- The price may start another escalate if it cleans the level of resistance of USD 0.260 and USD 0.2655.
Dogecoin price is resistant
The price of Dogecoin began to refresh from the resistance zone of USD 0.2940, such as Bitcoin and Ethereum. Doge immersed below the levels of USD 0.280 and 0.2655 USD. Even it increased below USD 0.250.
The low was created at 0.2388 USD and the price is increasing. There was a traffic above 23.6% of the level of withdrawal of wave fibs from a height of 0.2933 USD to a low level of USD 0.2388. The price even cleared the resistance level of USD 0.2500.
There was a break over the connecting bear trend line with a resistance of USD 0.2515 on the Doge/USD hour chart. The Dogecoin price is now trading above 0.250 USD and 100-hour straight movable average. Immediate resistance at the top is close to USD 0.260.
The first high resistance for bulls can be close to 0.2655 USD or 50% of the level of withdrawal FIB wave down from a height of USD 0.2933 to a low level of USD 0.2388. The next main resistance is close to USD 0.2725.
Closing above the resistance in the amount of USD 0.2725 may send a price to a resistance of USD 0.300. Any profits can send a price to USD 0.320. Another crucial stop for Bulls can be 0.3420 USD.
Another decrease in dog?
If the Doge price does not escalate above USD 0.260, it may start another decrease. Initial support in the minus is close to USD 0.2520. Another sedate support is close to USD 0.250.
The main support is USD 0.2380. If there is a break below the support of USD 0.2380, the price may fall. In the given case, the price may drop in relation to USD 0.2250, and even USD 0.2120 in the near future.
Technical indicators
MACD – MacD for DOGE/USD is now gaining momentum in the stubborn zone.
RSI hours (relative strength indicator) – RSI for DOGE/USD is now above level 50.
Main support levels – USD 0.2520 and USD 0.2500.
Main resistance levels – USD 0.2600 and 0.2655 USD.
