DOGE price dipped as low as $0.1330 on April 11 but managed to find support and bounce back. Subsequently, Dogecoin successfully surpassed the SMA100 at $0.14 followed by $0.1450 and reached $0.15 yesterday. At that point, the price failed to surpass and had to back down. Currently, DOGE price is at $0.1460.
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DOGE Price Action Analysis
Taking a look at the 4-hour chart, we see DOGE price fell all the way down to $0.1330 before finding a solid support level. With that, Dogecoin started a new rally and surpassed $0.14 and $0.1450 before hitting a dead end at $0.15.
At this point, the $0.14 is a key support level right on the SMA100 that could trigger a new rally foe DOGE. In that case, the $0.15, $0.1550 and $0.16 will be the following resistance levels. If that happens, DOGE price can make an attempt to surpass $0.17 and $0.18.
On the other hand, if DOGE price fails to surpass $0.15 and subsequently loses the $0.14 support, the correction will continue. For this scenario, the $0.1380, $0.1350 and $0.1330 will be the support levels to expect. Further decline can bring Dogecoin as low as $0.13 and $0.1250 in short-term.
The Technical Indicators
MACD indicator: at the time of writing this article the 4-hour MACD for Dogecoin is taking back the upward momentum.
RSI: the relative strength index is approximately 55.
Resistance levels: the first one will be at $0.1550. Following that, we can expect $0.1650 and then $0.17 and finally $0.18 to be resistance levels on the way.
Support levels: first and foremost, the $0.14 will support the price. After that, the $0.1330 will be the next one. And then the $0.13 and finally $0.1280 will support the price next.
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