Dogecoin has started a recent rally above the $0.180 resistance against the US dollar. DOGE could continue to rise if it breaks through the resistance at $0.2200.

• DOGE price started a recent rally just like Bitcoin and climbed above the $0.180 resistance level.
• The price is above the $0.1800 level and the 100-hour plain moving average.
• On the hourly chart, DOGE/USD has broken above a key bearish trend line with resistance at $0.1620 (data source Kraken).
• The price may continue to rise if it breaks the $0.2150 and $0.2200 resistance levels.

Dogecoin price means more profits

Dogecoin price has started a recent rally after regaining the resistance at $0.1650 like Bitcoin and Ethereum. DOGE was able to accelerate the move above the $0.1800 and $0.1850 resistance levels.

On the hourly chart, the DOGE/USD pair broke above the key bearish trend line with resistance at USD 0.1620. The pair even rose above $0.2000. A high is forming at $0.2200 and the price is currently consolidating above the 23.6% Fib retracement level in an upward move from a low of $0.1654 to a high of $0.2200.

Dogecoin price is currently trading above the $0.200 level and the 100-hour plain moving average. Immediate upside resistance is located near the $0.2150 level. The next major resistance is near the $0.220 level.

A close above the $0.220 resistance could push the price towards the $0.2320 resistance. Any further gains could push the price towards the $0.2420 level. The next major stop for bulls could be $0.250.

Are dips supported in DOGE?

If the DOGE price does not rise above the $0.2150 level, another decline could begin. Initial downside support is located near the $0.2080 level. The next major support is located near the $0.1920 level or the 50% Fib retracement level in an upward move from a low of $0.1654 to a high of $0.2200.

Major support is located at $0.1780. If there is a break below the support at $0.1780, the price may decline further. In the above case, the price may drop towards the level of USD 0.1650 or even USD 0.1620 in the miniature term.

Technical indicators

Hourly MACD – The MACD for DOGE/USD is currently gaining momentum in a bearish zone.

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

Major support levels – $0.2080 and $0.1920.

Major resistance levels – USD 0.2150 and USD 0.2200.