Dogecoin Price Prediction – DOGE Signals Bullish Break, Bulls Aims For $0.10
February 19 2024 - 11:38PM
NEWSBTC
Dogecoin is showing bullish signs above the $0.0875 zone against
the US Dollar. DOGE could extend its rally toward the $0.100
resistance in the near term. DOGE is showing positive signs above
the $0.0875 zone against the US dollar. The price is trading above
the $0.0880 level and the 100 simple moving average (4 hours).
There was a break above a key contracting triangle with resistance
at $0.0842 on the 4-hour chart of the DOGE/USD pair (data source
from Kraken). The price could extend its rally above the $0.090 and
$0.092 resistance levels. Dogecoin Price Aims Higher In the past
few sessions, Dogecoin price started a decent increase from the
$0.082 support zone. DOGE cleared many hurdles near $0.0850 to
enter a positive zone. There was a break above a key contracting
triangle with resistance at $0.0842 on the 4-hour chart of the
DOGE/USD pair. It even broke the $0.0880 resistance to move further
into a positive zone like Bitcoin and Ethereum. A high was formed
near $0.0914 and the price is now correcting gains. There was a
move below the 23.6% Fib retracement level of the recent wave from
the $0.0820 swing low to the $0.0914 high. DOGE is also trading
above the $0.0875 level and the 100 simple moving average (4
hours). Source: DOGEUSD on TradingView.com On the upside, the price
is facing resistance near the $0.0892 level. The next major
resistance is near the $0.0915 level. A close above the $0.0915
resistance might send the price toward the $0.095 resistance. The
next major resistance is near $0.100. Any more gains might send the
price toward the $0.120 level. Downside Correction in DOGE? If
DOGE’s price fails to gain pace above the $0.0915 level, it could
start a downside correction. Initial support on the downside is
near the $0.0865 level. The next major support is near the $0.0855
level or the 61.8% Fib retracement level of the recent wave from
the $0.0820 swing low to the $0.0914 high. If there is a downside
break below the $0.0855 support, the price could decline further.
In the stated case, the price might decline toward the $0.0820
level. Technical Indicators 4 Hours MACD – The MACD for DOGE/USD is
now losing momentum in the bullish zone. 4 Hours RSI (Relative
Strength Index) – The RSI for DOGE/USD is now above the 50 level.
Major Support Levels – $0.0865, $0.0855 and $0.0820. Major
Resistance Levels – $0.0915, $0.095, and $0.10.
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