Dogecoin is gaining momentum above the $0.4250 support against the US dollar. DOGE is in a bullish zone and may soon break above the resistance at $0.4650.

• DOGE price has started a up-to-date rally above the USD 0.420 level.
• The price is above the $0.4250 level and the 100-hour basic moving average.
• On the hourly chart, DOGE/USD has broken above a key bearish trend line with resistance at $0.4150 (data source Kraken).
• The price may begin another rally if it breaks the $0.450 and $0.4650 resistance levels.

Dogecoin price regains momentum

Dogecoin price has started a up-to-date surge above $0.410, similar to Bitcoin and Ethereum. DOGE was trading above the $0.4200 and $0.4250 resistance levels.

There has been a break above the key bearish trend line with resistance at $0.4150 on the hourly chart of the DOGE/USD pair. The bulls even pushed the price above the 50% Fib retracement level in a move down from the high of $0.4637 to the low of $0.3878.

Dogecoin price is currently trading above the $0.420 level and the 100-hour basic moving average. Immediate upside resistance is located near the $0.4450 level. It is near the 76.4% Fib retracement level, which represents a downward move from a high of $0.4637 to a low of $0.3878.

The first major resistance for bulls may be near the $0.450 level. The next major resistance is near the $0.4650 level. A close above the $0.4650 resistance could push the price towards the $0.4750 resistance. Any further gains could push the price towards the $0.5000 level. The next major stop for bulls could be $0.5200.

Correction of minuses in DOGE?

If the DOGE price does not rise above the $0.4450 level, another decline could begin. Initial downside support is near the $0.4250 level. The next critical support is near the USD 0.4120 level.

The main support is located at USD 0.400. If there is a break below the support at $0.400, the price may decline further. In the above case, the price may drop towards the level of USD 0.3880 or even USD 0.3750 in the compact term.

Technical indicators

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

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

Major support levels – USD 0.4250 and USD 0.4120.

Major resistance levels – USD 0.4450 and USD 0.4650.