Dogecoin began a recovery wave over the $ 0.250 area compared to the US dollar. DOGE is now consolidated and could face obstacles close to $ 0.2655.
- Doge Price started a recovery wave over the levels of $ 0,2,500 and $ 0,2520.
- The price is negotiated above the level of $ 0.250 and the mobile average at 100 hours.
- There was a break over a lower connection line of connection with resistance at $ 0.2515 on the time graph of the DOGE / USD pair (Kraken data source).
- The price could start another increase if it erases resistance levels of $ 0.260 and $ 0.2655.
Dogecoin Price faces resistance
Dogecoin price started a new drop compared to the resistance area of $ 0.2,940, such as Bitcoin and Ethereum. DOGE fell below the support levels of $ 0.280 and $ 0.2655. He even increased below $ 0.250.
A hollow was formed at $ 0.2388 and the price is now increasing. There has been a movement above the FIB trace level of 23.6% of the wave down of the swing of $ 0.2933 at the level of $ 0.2388. The price even released the resistance level of $ 0,2,500.
There was a break above a lower connection line of connection with resistance at $ 0.2515 on the time graph of the DOGE / USD pair. The Dogecoin price is now negotiated above the level of $ 0.250 and the mobile average at 100 hours. Immediate upward resistance is close to the level of $ 0.260.
The first major resistance for the bulls could be close to the level of $ 0.2655 or the level of FIB retracement to 50% from the downstream, swallow of $ 0.2933 at the level of $ 0.2388 . The next major resistance is close to the level of $ 0.2725.
A fence greater than the resistance of $ 0.2725 could send the price to the resistance of $ 0.300. Other gains could send the price at $ 0.320. The next major judgment for Bulls could be $ 0.3420.
Another drop in Doge?
If Doge’s price fails to climb over the level of $ 0.260, it could start another drop. The initial decline support is close to the level of $ 0.2520. The next major support is close to the level of $ 0.250.
The main support is at $ 0.2380. If there is a break down below the support of $ 0.2380, the price could decrease more. In the indicated case, the price could decrease to the level of $ 0,2250, or even $ 0,2120 in the short term.
Technical indicators
MacD Schedule – The MacD for Doge / USD is now growing in the bullish area.
Hourly RSI (Relative force index) – The RSI for Doge / USD is now higher in level 50.
Major support levels – $ 0.2520 and $ 0,2500.
Major resistance levels – $ 0,2600 and $ 0.2655.
