CandleFocus Dogecoin (DOGE) Soars 50% In a Flash: Is More Upside Ahead?
2024-11-11
Author: Content Editor
Dogecoin has experienced a surge in price, rising above the $0.220 resistance level against the US Dollar. The cryptocurrency is up over 50% and there are indications that it may continue to rise. It has surpassed several resistance levels, including $0.250 and $0.300, and is now consolidating above the 23.6% Fib retracement level. There is a bullish trend line forming with support at $0.280, and the price is trading above the $0.2880 level and the 100-hourly simple moving average. The immediate resistance is at $0.300, with the next major resistance at $0.3050. If it fails to break above $0.3050, a downside correction may occur, with initial support at $0.280 and the trend line. The main support is at $0.2550, and a break below this could lead to further decline. Technical indicators suggest bullish momentum, with the MACD in the bullish zone and the RSI above 50.
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