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Home Market & Analysis

Dogecoin Price Holds Crucial Support But Can DOGE Clear This Hurdle?

n70products by n70products
March 21, 2024
in Market & Analysis
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Dogecoin Price Holds Crucial Support But Can DOGE Clear This Hurdle?
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Dogecoin is recovering larger from $0.1220 in opposition to the US Greenback. DOGE should clear the $0.1650 resistance to start out one other enhance towards $0.200.

  • DOGE declined closely and examined the $0.1220 assist in opposition to the US greenback.
  • The value is buying and selling beneath the $0.1650 stage and the 100 easy transferring common (4 hours).
  • There was a break above a key bearish development line with resistance at $0.1310 on the 4-hour chart of the DOGE/USD pair (information supply from Kraken).
  • The value may achieve bullish momentum if it clears the $0.1600 and $0.1650 resistance ranges.

Dogecoin Value Recovers Over 15%

After a powerful decline, Dogecoin worth discovered assist close to the $0.1220 zone. A low was fashioned at $0.1228 and DOGE lately began an honest restoration wave, like Bitcoin and Ethereum.

There was a gradual enhance above the $0.1320 and $0.1350 resistance ranges. The value cleared the 23.6% Fib retracement stage of the downward transfer from the $0.1927 swing excessive to the $0.1228 low. There was additionally a break above a key bearish development line with resistance at $0.1310 on the 4-hour chart of the DOGE/USD pair.

Dogecoin remains to be buying and selling beneath the $0.160 stage and the 100 easy transferring common (4 hours). On the upside, the worth is going through resistance close to the $0.1580 stage or the 50% Fib retracement stage of the downward transfer from the $0.1927 swing excessive to the $0.1228 low.

Dogecoin Price

Supply: DOGEUSD on TradingView.com

The subsequent main resistance is close to the $0.1650 stage. A detailed above the $0.1650 resistance may ship the worth towards the $0.1850 resistance. The subsequent main resistance is close to $0.200. Any extra good points may ship the worth towards the $0.220 stage.

One other Decline in DOGE?

If DOGE’s worth fails to achieve tempo above the $0.160 stage, it may begin one other decline. Preliminary assist on the draw back is close to the $0.1450 stage.

The subsequent main assist is close to the $0.130 stage. If there’s a draw back break beneath the $0.130 assist, the worth may decline additional. Within the acknowledged case, the worth may decline towards the $0.1150 stage.

Technical Indicators

4 Hours MACD – The MACD for DOGE/USD is now gaining momentum within the bullish zone.

4 Hours RSI (Relative Energy Index) – The RSI for DOGE/USD is now above the 50 stage.

Main Assist Ranges – $0.1450, $0.130 and $0.1150.

Main Resistance Ranges – $0.1580, $0.160, and $0.1650.

Disclaimer: The article is supplied for academic functions solely. It doesn’t characterize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You’re suggested to conduct your individual analysis earlier than making any funding choices. Use info supplied on this web site solely at your individual danger.



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Tags: ClearCrucialDOGEDogecoinHoldsHurdlePriceSupport
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