Dogecoin found support near $0.080 against the US Dollar. DOGE is rising and might rally toward the $0.10 resistance zone. DOGE remained strong above the $0.080 support against the US dollar. The price is trading above the $0.085 zone and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.0840 on the 4-hours chart of the DOGE/USD pair (data source from Kraken). The pair could rise further toward the $0.10 resistance if Ethereum and Bitcoin extend gains. Dogecoin Price Holds Ground After a major rally, Dogecoin’s price started a downside correction below $0.090. DOGE tested the $0.080 support zone where the bulls took a strong stand. A low was formed near $0.0803 and the price started a fresh increase. Recently, there were strong bullish moves in Ethereum and Bitcoin. They both dragged DOGE higher from the $0.082 zone. There was a move above the 23.6% Fib retracement level of the key drop from the $0.1050 swing high to the $0.0803 low. Dogecoin price is now trading above the $0.085 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.0840 on the 4-hours chart of the DOGE/USD pair. Source: DOGEUSD on TradingView.com On the upside, the price is facing resistance near the $0.0928 level. It is close to the 50% Fib retracement level of the key drop from the $0.1050 swing high to the $0.0803 low. A close above the $0.0928 resistance might send the price toward the $0.098 resistance. The next major resistance is near $0.100. Any more gains might send the price toward the $0.1125 level. Fresh Decline in DOGE? If DOGE’s price fails to gain pace above the $0.0928 level, it could start a fresh decline. Initial support on the downside is near the $0.086 level. The next major support is near the $0.084 level and the trend line. If there is a downside break below the $0.084 support, the price could decline further. In the stated case, the price might decline toward the $0.080 level. Technical Indicators 4 Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. 4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.086, $0.084, and $0.080. Major Resistance Levels – $0.0928, $0.0980, and $0.010.
