Dogecoin (DOGE) Makes U-Turn, Why This Support Might Start Fresh Increase

Dogecoin fell sharply from $0.160 resistance to the US Dollar. DOGE might see an increase again if it remains above the $0.090 support area.

  • DOGE reached $0.160 and began a new decline against the US dollars.
  • It is trading at $0.0700 and above the simple moving average of 100 days.
  • A break was seen below a major rising channel, support being near $0.1180 in the daily chart for the DOGE/USD currency pair (data source Kraken).
  • To avoid further losses, the pair should remain above $0.090.

Dogecoin Gains

Dogecoin experienced a bullish surge above $0.070 resistance in the last few days. DOGE rose significantly over the $0.100 resistance zone, surpassing bitcoin and even ethereum.

Bulls managed to push the price higher than the $0.12 resistance level. Finally, the price jumped above the $0.15 mark. It reached $0.1609, and then began a downward correction. The price moved clearly below the $0.142 support level and $0.135 resistance levels.

The 50% Fib level for the upward movement from $0.0551 swing low to $0.1609 peak was below which the Doge price fell. A break was also seen below the key rising channel, with support at $0.1180 in the daily chart for the DOGE/USD pair.

It is currently testing $0.0955 as a support area. The price is close to the 61.8% Fib level of the upward movement from $0.0551 swing lows to $0.1609 highs.

Dogecoin (DOGE)

Source: DOGEUSD from

A downside breakout below the $0.0955 resistance could cause the price to fall further. Main support can be found near $0.0900 or $0.0895. A move to the $0.0550 area could be possible with any additional losses.

Do you see a fresh increase in DOGE

The chances of an additional increase are high if the DOGE price stays above the $0.0955 resistance. The $0.1150 mark is the initial resistance.

It is located near $0.1200, the initial major resistance. Bulls could see further gains beyond the $0.1200 level encouraging them to test the crucial $0.135 mark.

Technical indicators

4-Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now near the 50 level.

Major Support Levels – $0.0955, $0.0900 and $0.0550.

Major Resistance Levels – $0.1150, $0.1200 and $0.1350.

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