DOGE price failed to surpass the downtrend at $0.1450 on January 23rd had had to back down to $0.1260. At that point, by reaching the upward trendline it managed to find support and recover. Following that, the price started to grow and reach $0.14 but yet again, reaching the SMA100 turned it back down. Currently, DOGE price is at $0.1330.
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DOGE Price Action Analysis
Taking a look at the 1-hour hart, we see DOGE finally had some bull action starting from $0.12. Subsequently, Dogecoin climbed as high as $0.1450 but failed to surpass this level and went for a price correction.
With a closer look, we find DOGE price inside a triangle pattern with top and bottom at $0.1370 and $0.1290. Yesterday, by reaching the bottom part the price found support and moved toward the top.
For a bullish scenario, the $0.1380 at the top as well as the SMA100 will be the first resistance level for DOGE. In case of a successful breakthrough, the price could continue upwards. The $0.1450 and $0.15 will be the next resistance levels to expect.
On the other and, if DOGE price fails to surpass $0.1380 on top, it could pivot downward again. In which case, the $0.1330 is the first support level followed by $0.1290.
Further decline can bring DOGE price down to $0.1250 and $0.12.
The Technical Indicators
MACD indicator: at the time of writing this article the 1-hour MACD for Dogecoin is losing the upward momentum.
RSI: the relative strength index is approximately 52.
Resistance levels: the first one will be at $0.1380. Following that, we can expect $0.14 and then $0.1450 and finally $0.15 to be resistance levels on the way.
Support levels: first and foremost, the $0.1330 will support the price. After that, the $0.13 will be the next one. And then the $0.1250 and $0.12 will support the price next.
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