Dogecoin Price (DOGE) Poised To Surge If This Support Holds

Dogecoin (DOGE) has recently experienced a surge in price, breaking above the $0.100 resistance level against the US Dollar. The price is currently trading above the $0.1050 mark and the 100-hourly simple moving average, forming a bullish trend line with support near $0.1050 on the hourly chart. This positive momentum could propel DOGE towards the $0.1080 resistance zone. The price increase follows a period of growth from the $0.0950 level, surpassing the $0.100 and $0.1020 resistance levels. A high was reached at $0.1079, followed by a pullback below the $0.1060 level. However, the bulls have defended the 61.8% Fib retracement level of the upward move from the $0.1020 low to the $0.1079 high, indicating strong support. If DOGE successfully breaks above the $0.1080 resistance, it could target the $0.1120 and potentially even the $0.1200 levels. Further gains might lead the price towards the $0.1350 mark. However, a failure to overcome the $0.1080 resistance could trigger a downside correction. Initial support is located at $0.1055, followed by the $0.1035 level, and the main support at $0.1020. A break below the $0.1020 support could result in a decline towards $0.0950 or even $0.0920. Technical indicators suggest bullish momentum, with the hourly MACD gaining momentum in the bullish zone and the hourly RSI above the 50 level. Major support levels are at $0.1035 and $0.1020, while major resistance levels are at $0.1080 and $0.1120.