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Dogecoin (DOGE) Resilient Above $0.20 – Can Momentum Shift Toward Fresh Upside?
Dogecoin's price has recently experienced a bullish trend, surpassing the $0.20 mark against the US dollar. After settling above $0.1880, DOGE initiated a fresh upward movement, gaining momentum like Bitcoin and Ethereum. The price successfully broke above the $0.20 resistance, entering a period of positive trading. A high of $0.2182 was reached before a correction phase began, with a retracement below the 50% Fibonacci level. Currently, Dogecoin is trading above $0.20 and the 100-hourly simple moving average. A bullish trend line is visible, offering support at $0.1980 on the hourly chart. Immediate resistance lies near $0.2085, with major resistances at $0.2120 and $0.2180. A successful break above $0.2180 could propel the price towards $0.2320 and even $0.250. However, if DOGE fails to surpass $0.2120, a downside correction is probable, with support levels at $0.20, $0.1980, and the crucial $0.1880. Technical indicators show the MACD losing bullish momentum and the RSI below 50.
