Dogecoin Price Starts Fresh Increase

In the past few sessions, Dogecoin price saw a decent increase from the $0.0950 zone like Bitcoin and Ethereum. The price was able to clear the $0.100 and $0.1020 resistance levels.

Dogecoin (DOGE) started a fresh increase above the $0.100 resistance against the US Dollar. DOGE is rising and might gain pace for a move above $0.1080.

Dogecoin Price Key Highlights

DOGE price is showing signs of a fresh increase above the $0.100 resistance against the USD.

Immediate resistance on the upside is near the $0.1072 and $0.1080 levels.

A close above the $0.1080 resistance could spark a strong rally toward the $0.1120 resistance.

Dogecoin (DOGE) price rallied above the $0.100 resistance against the US Dollar. The bulls are now attempting to push the price higher for a move above $0.1080.

Dogecoin Price Starts Fresh Increase

In the past few sessions, dogecoin price saw a decent increase from the $0.0950 zone like bitcoin and ether. The price was able to clear the $0.100 and $0.1020 resistance levels.

The bulls even pushed it above $0.1050 and the 100-hourly simple moving average. A high was formed at $0.1079 before there was a pullback.

DOGE price started a fresh decrease from the $0.1079 high. The price declined below the $0.1060 level. It even declined below the 50% Fib retracement level of the upward move from the $0.1020 swing low to the $0.1079 high.

However, the bulls were active near the $0.1040 level. They protected the 61.8% Fib retracement level of the upward move from the $0.1020 swing low to the $0.1079 high.

Moreover, there is a key bullish trend line forming with support near $0.1050 on the hourly chart of the DOGE/USD pair. Dogecoin price is again rising and trading above the $0.1050 level.

Immediate resistance on the upside is near the $0.1072 level. The next major resistance is near the $0.1080 level.

A close above the $0.1080 resistance might send the price toward the $0.1120 resistance. Any further gains could spark a strong rally toward the $0.1200 resistance.

The next major stop for the bulls might be at $0.1350.

More Downsides In DOGE?

If DOGE’s price fails to climb above the $0.1080 level, it could start another downside correction.

Initial support on the downside is near the $0.1055 level. The next major support is around the $0.1035 level.

The main support sits at $0.1020. If there is a downside break below the $0.1020 support, the price could decline further.

In the stated case, the price might decline toward the $0.0950 level or even $0.0920 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 – $0.1035 and $0.1020.

Major Resistance Levels – $0.1080 and $0.1120.

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