CandleFocus

Dogecoin (DOGE) Poised for Another Rise: Can Bulls Drive Higher?

Dogecoin (DOGE) is currently consolidating above the $0.1320 support against the US Dollar. In order to see further gains, DOGE must break the resistance at $0.1425. The price recently experienced a downside correction after failing to surpass the $0.1500 resistance. It dipped below $0.1450 and $0.1420 before finding support at $0.1330 and starting to recover. However, there is strong resistance near the $0.1425 level, with a bearish trend line and the 61.8% Fib retracement level. The price is currently trading below the $0.1420 level and the 100-hourly simple moving average. If it fails to break above $0.1425, it could see another decline, with initial support at $0.1365 and major support at $0.1320. On the other hand, a close above $0.1450 could lead to further gains towards $0.1500 and $0.1550.

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