CandleFocus Dogecoin (DOGE) Eyes $0.50 Again: Is a New Rally on the Horizon?
2024-11-18
Author: Content Editor
Dogecoin (DOGE) is experiencing a consolidation phase above the $0.320 resistance level against the US Dollar. The cryptocurrency formed a base above $0.350 and is currently showing signs of rising. It recently broke above the $0.3550 and $0.3620 resistance levels and surpassed a key bearish trend line at $0.3670. The next major resistance levels are around $0.3880 and $0.400, with potential for further gains toward $0.4200 and even $0.500. On the downside, initial support is at $0.3650, followed by $0.3500. The main support level lies at $0.320, and a break below this could lead to further declines toward $0.300 or $0.2950. Technical indicators indicate bullish momentum for DOGE/USD, with the MACD gaining strength in the bullish zone and the RSI above the 50 level.
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