Beginners

Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Dogecoin (DOGE) Pauses After Gains, Setting Up for a Possible Sharp Move

Source Newsbtc

Dogecoin started a steady increase above $0.1550 against the US Dollar. DOGE is now consolidating and might decline sharply if it trades below $0.1490.

DOGE price started a fresh increase above $0.1480 and $0.150.
The price is trading below the $0.1520 level and the 100-hourly simple moving average.
There is a bullish trend line forming with support at $0.1495 on the hourly chart of the DOGE/USD pair (data source from Kraken).
The price could aim for a fresh increase if it remains stable above $0.1490.

Dogecoin Price Consolidates Gains

Dogecoin price started a fresh increase after it settled above $0.1450, like Bitcoin and Ethereum. DOGE climbed above the $0.150 resistance to enter a positive zone.

The bulls were able to push the price above $0.1525. A high was formed at $0.1565 and the price is now correcting some gains. There was a move below the 23.6% Fib retracement level of the upward move from the $0.1330 swing low to the $0.1565 high.

Dogecoin price is now trading below the $0.1520 level and the 100-hourly simple moving average. Besides, there is a bullish trend line forming with support at $0.1495 on the hourly chart of the DOGE/USD pair.

If there is another increase, immediate resistance on the upside is near the $0.1550 level and a connecting bearish trend line on the same chart. The first major resistance for the bulls could be near the $0.1565 level. The next major resistance is near the $0.160 level. A close above the $0.160 resistance might send the price toward $0.1680. Any more gains might send the price toward $0.1720. The next major stop for the bulls might be $0.1780.

Downside Break In DOGE?

If DOGE’s price fails to climb above the $0.1550 level, it could start a downside correction. Initial support on the downside is near the $0.1490 level and the trend line. The next major support is near the $0.1450 level and the 50% Fib retracement level of the upward move from the $0.1330 swing low to the $0.1565 high.

The main support sits at $0.1420. If there is a downside break below the $0.1420 support, the price could decline further. In the stated case, the price might slide toward the $0.1330 level or even $0.130 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone.

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

Major Support Levels – $0.1490 and $0.1420.

Major Resistance Levels – $0.1550 and $0.1565.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

US Dollar's Decline Predicted in 2026: Morgan Stanley's Outlook on Currency Volatility Morgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.

Author Mitrade

Nov 25, Tue

Morgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.

Nvidia Shares Slip as Google's AI Chips Gain Ground with Meta Deal Talks Nvidia shares declined Tuesday following a report that Meta Platforms is in advanced talks to spend billions on Google's tensor processing units (TPUs), signaling the search giant's growing momentum in the competitive AI accelerator market.

Author Mitrade

Nov 25, Tue

Nvidia shares declined Tuesday following a report that Meta Platforms is in advanced talks to spend billions on Google's tensor processing units (TPUs), signaling the search giant's growing momentum in the competitive AI accelerator market.

Asian Stocks Rise Amid Growing Fed Rate Cut Expectations; Yen Remains in Focus Asian markets experienced gains as expectations for a Federal Reserve rate cut rose, softening the dollar. Attention turns to the yen's potential for intervention, while China's Vanke navigates bond repayment challenges.

Author Mitrade

Yesterday 02: 37

Asian markets experienced gains as expectations for a Federal Reserve rate cut rose, softening the dollar. Attention turns to the yen's potential for intervention, while China's Vanke navigates bond repayment challenges.

Robinhood Stock Surges as It Expands into Booming Prediction Markets Robinhood is deepening its push into the rapidly growing prediction markets space, driving its stock sharply higher as investors cheer the strategic expansion.

Author Mitrade

23 hours ago

Robinhood is deepening its push into the rapidly growing prediction markets space, driving its stock sharply higher as investors cheer the strategic expansion.

Dollar Faces Sharp Weekly Decline as Investors Shift Focus to Euro and Aussie Dollar The U.S. dollar is set for its most significant weekly drop in four months, driven by expectations of monetary easing and pressure to reduce interest rates. In contrast, the yen and Australian dollar gain traction amid shifting market dynamics.

Author Mitrade

3 hours ago

The U.S. dollar is set for its most significant weekly drop in four months, driven by expectations of monetary easing and pressure to reduce interest rates. In contrast, the yen and Australian dollar gain traction amid shifting market dynamics.

Popular Symbols