Dogecoin (DOGE) Flashes Bullish Signals—Is a Major Rally on the Horizon?

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Dogecoin started a fresh increase from the $0.1650 zone against the US Dollar. DOGE is now gaining pace and might rise toward the $0.185 zone.


  • DOGE price started a fresh increase above the $0.170 and $0.172 levels.

  • The price is trading above the $0.1750 level and the 100-hourly simple moving average.

  • There is a connecting bullish trend line forming with support at $0.1740 on the hourly chart of the DOGE/USD pair (data source from Kraken).

  • The price could start a fresh increase if it clears the $0.180 resistance zone.


Dogecoin Price Aims Higher


Dogecoin price started a fresh increase after it found support near $0.1650, like Bitcoin and Ethereum. DOGE climbed and recovered above the $0.170 resistance zone.


The bulls even pushed the price above the 50% Fib retracement level of the downward move from the $0.1843 swing high to the $0.1642 low. Besides, there is a connecting bullish trend line forming with support at $0.1740 on the hourly chart of the DOGE/USD pair.


Dogecoin price is now trading above the $0.1750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1780 level.


Dogecoin Price


The first major resistance for the bulls could be near the $0.1790 level and the 76.4% Fib retracement level of the downward move from the $0.1843 swing high to the $0.1642 low. The next major resistance is near the $0.1840 level. A close above the $0.1840 resistance might send the price toward the $0.1880 resistance. Any more gains might send the price toward the $0.1920 level. The next major stop for the bulls might be $0.200.


Another Decline In DOGE?


If DOGE’s price fails to climb above the $0.1790 level, it could start another decline. Initial support on the downside is near the $0.1740 level. The next major support is near the $0.1720 level.


The main support sits at $0.1650. If there is a downside break below the $0.1650 support, the price could decline further. In the stated case, the price might decline toward the $0.1550 level or even $0.1450 in the near term.


Technical Indicators

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

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

  • Major Support Levels – $0.1740 and $0.1720.

  • Major Resistance Levels – $0.1790 and $0.1850.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

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