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Dogecoin Price Prediction: DOGE Signals Fresh Rally If It Clears 100 SMA
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Dogecoin Price Prediction: DOGE Signals Fresh Rally If It Clears 100 SMA

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Dogecoin Price Eyes Upside Break

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Dogecoin is gaining bullish momentum above the $0.062 resistance against the US Dollar. DOGE could rally if it clears the 100 SMA (H4).

  • DOGE is currently showing positive signs above $0.0620 resistance against the US dollar.
  • The price is trading below the $0.064 zone and the 100 simple moving average (4 hours).
  • There was a break above a key bearish trend line with resistance near $0.0620 on the 4-hours chart of the DOGE/USD pair (data source from Kraken).
  • The pair could start a fresh rally if it clears the $0.064 resistance zone.

Dogecoin Price Could Rally 5%

After forming a base above the $0.0550 level, Dogecoin’s price started a decent increase. DOGE was able to clear the $0.0580 and $0.060 resistance levels.

In the past two sessions, there were bullish moves in Bitcoin and Ethereum, sparking a decent increase in DOGE. The price climbed above the 50% Fib retracement level of the key decline from the $0.0715 swing high to the $0.0554 low.

Besides, there was a break above a key bearish trend line with resistance near $0.0620 on the 4-hours chart of the DOGE/USD pair. The pair is now trading below the $0.064 zone and the 100 simple moving average (4 hours).

On the upside, the price is facing resistance near the 100 simple moving average (4 hours). The first major resistance is near the $0.0655 level and the 61.8% Fib retracement level of the key decline from the $0.0715 swing high to the $0.0554 low.

Dogecoin Price Prediction

Source: DOGEUSD on TradingView.com

A close above the $0.0655 resistance might send the price toward the $0.0685 resistance. The next major resistance is near $0.070. Any more gains might send the price toward the $0.072 level.

Fresh Decline in DOGE?

If DOGE’s price fails to gain pace above the $0.0640 level, it could start a fresh decline. Initial support on the downside is near the $0.0625 level.

The next major support is near the $0.060 level. If there is a downside break below the $0.0600 support, the price could decline further. In the stated case, the price might decline toward the $0.0550 level.

Technical Indicators

4 Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.

4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.0625, $0.0600, and $0.0550.

Major Resistance Levels – $0.0640, $0.0655, and $0.0685.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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