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Dogecoin (DOGE) Recovery Gains Traction—Can It Unlock Bigger Gains?

Dogecoin started a fresh increase from the $0.0850 zone against the US Dollar. DOGE is now facing hurdles near $0.090 and might aim for a larger rally. DOGE price started a decent upward move above $0.0850 and $0.0880. The price is trading above the $0.0870 level and the 100-hour

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Dogecoin (DOGE) Recovery Gains Traction—Can It Unlock Bigger Gains?

Dogecoin started a fresh increase from the $0.0850 zone against the US Dollar. DOGE is now facing hurdles near $0.

090 and might aim for a larger rally. DOGE price started a decent upward move above $0.0850 and $0.

0880. The price is trading above the $0.0870 level and the 100-hourly simple moving average.

There is a bullish trend line forming with support at $0.0870 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to move up if it stays above $0.

0850. Dogecoin Price Faces Hurdles Dogecoin price remained supported above the $0.0850 zone and started a fresh increase, like Bitcoin and Ethereum.

DOGE climbed above the $0.0865 and $0.0870 resistance levels.

The price gained over 2% and tested the $0.0890 zone. There was a move above the 38.

2% Fib retracement level of the downward move from the $0.0920 swing high to the $0.0855 low.

Besides, there is a bullish trend line forming with support at $0.0870 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.

0870 level and the 100-hourly simple moving average. If the bulls remain active, the price could attempt another increase. Immediate resistance on the upside is near the $0.

0890 level and the 50% Fib retracement level of the downward move from the $0.0920 swing high to the $0.0855 low.

The first major resistance for the bulls could be near the $0.0905 level. The next major resistance is near the $0.

0920 level. A close above the $0.0920 resistance might send the price toward the $0.

0950 resistance. Any more gains might send the price toward the $0.10 level.

The next major stop for the bulls might be $0.1050. Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.090 level, it could continue to move down. Initial support on the downside is near the $0.

0870 level. The next major support is near the $0.0855 level.

The main support sits at $0.0850. If there is a downside break below the $0.

0850 support, the price could decline further. In

Nguồn: NewsBTC

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