The exchange rate of dog currency against the US dollar climbed above the resistance level of 0.065 US dollars
The exchange rate of dog currency against the US dollar climbed above the resistance level of 0.065 US dollars. If DOGE breaks through the resistance zone of $0.070, its increase may exceed 20%.
- DOGE began to rise significantly above the resistance level of 0.0625 USD against the US dollar.
- The price is below the $0.0650 level and the 100 simple moving average (4 hours).
- On the 4-hour chart of the DOGE/USD currency pair, there is a key bullish trend line that forms support around $0.0650 (data source from Kraken).
- If it breaks through the resistance level of $0.070, prices may start to rebound strongly like Bitcoin.
The price of dog coins has started to rise
After forming a foundation above $0.0575, the price of dog coins began a new round of increase. DOGE broke through the resistance zone of $0.060 and entered the positive zone.
The recent rise in Bitcoin and Ethereum has also driven DOGE higher. Steadily rising above the resistance zone of $0.0650. Forming a high near $0.0693, the price is currently consolidating its increase. It is also above the 23.6% Fib retracement level, which has recently risen from a fluctuating low of $0.0574 to a high of $0.0693.
The current trading price of DOGE is above the $0.065 level and the 100 simple moving average (4 hours). On the positive side, the price is facing resistance around $0.0685. A key bullish trend line was also formed on the 4-hour chart of the DOGE/USD currency pair, with support around $0.0650. The first major resistance level is around $0.0685. The main resistance level is around $0.070. Closing above the resistance level of $0.070 may push the price towards the resistance level of $0.0735. The next major resistance level is around $0.0750. Any further increase may push the price to the level of $0.080.
Does DOE support decline?
If the price of DOGE fails to break through the level of 0.070 US dollars, it may start a downward correction. The initial support for the downward trend is around $0.0665.
The next major support level is around $0.0650. If it falls below the support level of $0.0650, prices may further decline. In the above circumstances, the price may fall towards the level of 0.0632 US dollars or the 50% Fib retracement level that has recently risen from a fluctuating low of 0.0574 US dollars to a high of 0.0693 US dollars. Technical indicators
4 Hour RSI (Relative Intensity Index) - The RSI for DOGE/USD is currently above the 50 level.
Main support levels - $0.0665, $0.0650, and $0.0632.
Main resistance levels - $0.0685, $0.0700, and $0.0750.
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