Dogecoin began a new increase above the $ 0.1650 area compared to the US dollar. DOGE is now consolidated and could target a move over $ 0.1720.
- Doge Price began a new increase above levels of $ 0.1620 and $ 0,1650.
- The price is negotiated above the level of $ 0.1650 and the mobile average at 100 hours.
- There was a break above a wrestling trend line with resistance at $ 0.1640 on the time graph of the DOGE / USD pair (Kraken data source).
- The price could start a new drop if it remains below the $ 0.1720 area and $ 0.1800.
Dogecoin price faces obstacles
The price of Dogecoin began a new increase compared to the $ 0.1565 area, such as Bitcoin and Ethereum. DOGE was able to climb over the resistance levels of $ 0,1600 and $ 0,1620.
The Bulls even pushed the price above the resistance of $ 0.170. In addition, there was a break above a wrenching trend line with resistance at $ 0.1640 on the time graph of the Doge / USD pair. A summit was formed at $ 0.1726 and the price now consolidates gains. There was a minor drop below the FIB trace level of 23.6% of the swing movement of $ 0.1565 at a summit of $ 0.1726.
The Dogecoin price is now negotiated above the level of $ 0.1650 and the mobile average at 100 hours. Immediate upward resistance is close to the level of $ 0.1710. The first major resistance for Bulls could be close to the level of $ 0.1720.
The next major resistance is close to the level of $ 0.1750. A fence greater than the resistance of $ 0.1750 could send the price to the resistance of $ 0.180. Other gains could send the price at $ 0,200. The next major judgment for the Bulls could be $ 0,2120.
Another drop in Doge?
If Doge’s price fails to climb over the level of $ 0.1720, it could start another drop. The initial drop in the decline is close to the level of $ 0.1650 or the FIB trace level at 50% of the moving up from the bottom of $ 0.1565 at $ 0.1726. The next major support is close to the level of $ 0.1620.
The main support is at $ 0.1560. If there is a break down below the support of $ 0.1560, the price could decrease more. In the case indicated, the price could decrease to the level of $ 0.150, or even $ 0,1450 in the short term.
Technical indicators
MacD Schedule – The MacD for Doge / USD is now losing momentum in the bullish area.
Hourly RSI (Relative force index) – The RSI for Doge / USD is now higher in level 50.
Major support levels – $ 0,1650 and $ 0.1620.
Major resistance levels – $ 0.1720 and $ 0.1800.
