Momentum

Dogecoin

Resistance

Pace

Dogecoin (DOGE) has seen a recent surge in developer activity, which is typically viewed as a positive sign for a cryptocurrency project. 
According to reports, the Dogecoin development team has been actively working on improvements to the network. This suggests that new features or upgrades may be forthcoming. 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="347" src="https://captainaltcoin.com/wp-content/uploads/2023/08/Doge-Development-Activity-1024x347.png" alt="" class="wp-image-324036" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/Doge-Development-Activity-1024x347.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/Doge-Development-Activity-300x102.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/Doge-Development-Activity-768x260.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/Doge-Development-Activity-1536x520.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/Doge-Development-Activity-2048x693.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/Doge-Development-Activity-443x150.png 443w, https://captainaltcoin.com/wp-content/uploads/2023/08/Doge-Development-Activity-100x34.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/Doge-Development-Activity-1034x350.png 1034w, https://captainaltcoin.com/wp-content/uploads/2023/08/Doge-Development-Activity-788x266.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a> 
From a technical analysis perspective, this boost in development activity appears to be generating some positive momentum for Dogecoin. After breaking out above a Falling Wedge pattern, DOGE price reached a high of $0.085, representing a 30% gain. 
However, the rally was short-lived. DOGE has since pulled back below its 200-day moving average at $0.08 and previous support at $0.07. This retracement gave up all of the prior gains from the Falling Wedge breakout. DOGE is now trading in the $0.06 range as of August 29, 2023. 
The recent pullback does not necessarily negate the uptrend. DOGE price needs to regain the $0.07 level as well as the 200-day MA to confirm the continuation of the bullish trend. Alternatively, if the pullback extends to the $0.053 support level, it could offer an attractive swing entry opportunity. 
<h3 class="wp-block-heading" id="strong-technical-indicators-strong">Technical Indicators:</h3> 
<ul> 
 <li>The 20-day EMA is sloping down and the RSI is below 45, reflecting advantage to the bears in the short-term. Sellers will look to drive the price below $0.06.</li> 
 <li>However, the MACD Histogram bars are rising even as the MACD Line remains below the Signal line. This divergence suggests momentum is bottoming and could swing back to the upside.</li> 
</ul> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-818-1024x573.png" alt="" class="wp-image-324045" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-818-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-818-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-818-768x430.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-818-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-818-2048x1147.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-818-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-818-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-818-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-818-788x441.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-818.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true">altFINS – Start using it today</a> 
<h3 class="wp-block-heading" id="strong-key-levels-to-watch-strong">Key Levels to Watch:</h3> 
<ul> 
 <li>Support at $0.053 and $0.06</li> 
 <li>Resistance at $0.07, $0.085 (recent highs)</li> 
 <li>Further resistance at $0.10</li> 
</ul> 
The recent development activity for Dogecoin is encouraging. If the bullish momentum can regain its footing, DOGE could make another attempt at the $0.07 and $0.10 overhead resistance. The technicals suggest keeping a close watch on the $0.053 support for any reversal signals. Upside potential appears limited in the near-term but could materialize in a more sustained fashion if the fundamental catalysts remain in play. 
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The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/dogecoin-doge-development-picks-up-pace-key-levels-to-watch-for-continued-momentum/">Dogecoin (DOGE) Development Picks Up Pace – Key Levels to Watch for Continued Momentum</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.

Dogecoin (DOGE) Development Picks Up Pace – Key Levels to Watch for Continued Momentum

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