Dogecoin recently saw a rally over 25% against the US Dollar to clear the $0.090 resistance. The Dogecoin price went as high as $0.1051, setting a new monthly high. However, the price has since corrected, dropping back below the $0.0900 level. Traders should be aware that there is a key bearish trend line forming with resistance near the $0.0940 level. If the trend line holds and the price fails to break $0.0950, a downside break below the $0.085 support might be seen.

An initial support is near the $0.0905 level. It is near the 50% Fib retracement level of the recent rally from the $0.0765 low to the $0.1051 high. There are many key supports near the $0.085, $0.090 and $0.075 levels. Failure to recover above the $0.0950 resistance could trigger more losses toward the $0.075 support.

On the upside, the first resistance is near the $0.0940 level. The main resistance is at $0.0950, which is a crucial juncture. If the trend line and $0.0950 are broken, the price could extend gains toward the $0.1000 and $0.1050 resistance levels.

Overall, the price is facing hurdles near the $0.0940 and $0.0950 resistance levels. It must break above these resistances to resume its upside move. Alternatively, a bearish break below the $0.085 support could push the price toward the $0.075 support. The 4-hours MACD for the DOGE/USD pair is currently losing momentum in the bullish zone. The 4-hours RSI is also above the 50 level.



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