Dogecoin (DOGE) Lifts Further, Momentum Points To More Gains

TL;DR

Dogecoin (DOGE) has increased above $0.1150 and is consolidating, potentially aiming for further gains. The price is currently above $0.1085 and shows bullish momentum.

Key points

Dogecoin price increased above $0.1150 and $0.120
Price is trading above $0.1085 and the 100-hourly moving average
A bullish trend line is forming with support at $0.1085
Price could aim for further increases if it remains stable above $0.1150
Recent high formed at $0.1137

Dogecoin

Dogecoin started a decent increase above $0.1050 against the US Dollar. DOGE is now consolidating and might aim for an upside break above $0.1150.

DOGE price started a fresh increase above $0.1150 and $0.120.
The price is trading above the $0.1085 level and the 100-hourly simple moving average.
There is a bullish trend line forming with support at $0.1085 on the hourly chart of the DOGE/USD pair (data source from Kraken).
The price could aim for a fresh increase if it remains stable above $0.1150.

Dogecoin Price Climbs Above $0.1120

Dogecoin price started a fresh increase after it settled above $0.10, like Bitcoin and Ethereum. DOGE climbed above the $0.1050 resistance to enter a positive zone.

The bulls were able to push the price above $0.1120. A high was formed at $0.1137 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.1009 swing low to the $0.1137 high.

Dogecoin price is now trading above the $0.1100 level and the 100-hourly simple moving average. There is also a bullish trend line forming with support at $0.1085 on the hourly chart of the DOGE/USD pair.

If there is another increase, immediate resistance on the upside is near the $0.1135 level. The first major resistance for the bulls could be near the $0.1150 level.

Source: DOGEUSD on TradingView.com

The next major resistance is near the $0.120 level. A close above the $0.120 resistance might send the price toward $0.1220. Any more gains might send the price toward $0.1250. The next major stop for the bulls might be $0.1320.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.1150 level, it could start a downside correction. Initial support on the downside is near the $0.1100 level. The next major support is near the $0.1085 level or the trend line.

Q&A

What is the current price trend of Dogecoin (DOGE)?

Dogecoin is currently experiencing an upward trend, trading above $0.1150 and showing signs of further gains.

What resistance levels has Dogecoin (DOGE) surpassed recently?

Dogecoin has recently surpassed resistance levels of $0.1050 and $0.1120, reaching a high of $0.1137.

What support level is significant for Dogecoin (DOGE) at this time?

A significant support level for Dogecoin is at $0.1085, which is also where a bullish trend line is forming.