Dogecoin (DOGE) Bulls Want to Break Above $0.10: Will It Work?

Dogecoin has started a rebound from the $0.0888 zone against the US dollar. DOGE is rising and may even break through the $0.100 resistance zone.

DOGE price is heading towards rising above $0.100.
The price remains above the $0.0950 level and the 100-hour plain moving average.
On the hourly chart of the DOGE/USD currency pair, there was a breakout of the descending trend line connecting with the resistance at USD 0.0955 (data source: Kraken).
The price may gain upward momentum if it breaks through the USD 0.0980 and USD 0.100 levels.

Dogecoin price is heading towards sustained growth

After a massive drop, Dogecoin price found support near the $0.0888 zone. The price formed a base and recently started a rebound wave, similar to Bitcoin and Ethereum. There was a move above the $0.0920 and $0.0935 resistance levels.

The price broke through the 50% Fibonacci retracement level of the downward movement from the $0.0994 peak to the $0.0889 trough. There was also a breakout of the connecting bearish trendline with resistance at $0.0955 on the hourly chart of the DOGE/USD pair.

Dogecoin price is currently trading above the $0.0950 level and the 100-hour plain moving average. Immediate upside resistance is seen near the $0.0970 level or the 76.4% Fibonacci retracement level of the downward move from the $0.0994 high to the $0.0889 low.

The next major resistance is near the $0.0995 level. A close above the $0.0995 resistance could take the price towards the $0.1050 resistance. Any further gains could take the price towards the $0.1150 level. The next major stop for the bulls could be $0.1200.

Another DOGE drop?

If DOGE price fails to break above $0.0995, another decline could begin. Initial support on the downside is near $0.0938. The next major support is near $0.0900.

The major support is at $0.0880. If there is a break below the $0.0880 support, the price could continue to fall. In the given case, the price could fall towards $0.0850 or even $0.0835 in the miniature term.

Technical indicators

Hourly MACD – The MACD for the DOGE/USD pair is currently gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for the DOGE/USD pair is currently above the 50 level.

Major support levels – USD 0.0938 and USD 0.0900.

Major resistance levels – USD 0.0995 and USD 0.1050.