DOGE price had to face the $0.14 resistance level on the SMA100 yesterday and finally managed to surpass. With a pullback, Dogecoin managed to stabilize and climb all the way up to $0.1460 to face another resistance. With that, DOGE price had to back down and is currently trading at $0.1440.
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DOGE Price Action Analysis
Taking a look at the 4-hour chart, we see how Dogecoin managed to escape from top of a downward channel going on for two weeks. The price surpassed $0.14 and reached $0.1460 before facing strong resistance.
At this point, the $0.14 to $0.1410 near the SMA100 is the critical support level for the price. In case of successful support, the price will continue upwards. Following that, the $0,1550 and $0.1650 will be the next resistance levels. With a successful breakthrough, the $0.18 will be the next stop for DOGE price.
On the other hand, if Dogecoin fails to surpass $0.1450 and $0.15 and subsequently $0.14, we could expect further decline. For the bearish scenario, the $0.1350 and $0.13 are key support levels for the price.
The Technical Indicators
MACD indicator: at the time of writing this article the 4-hour MACD for Dogecoin is on an upward momentum.
RSI: the relative strength index is approximately 60.
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 $0.1350 will be the next one. And then the $0.13 and finally $0.1280 will support the price next.
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