Bitcoin

Dogecoin

Resistance

Dogecoin is up over 25% against the US Dollar. DOGE cleared the $0.120 resistance and might continue to rise toward the $0.132 resistance. 
<ul> 
 <li>DOGE started a strong increase after it broke the $0.0850 resistance against the US dollar.</li> 
 <li>The price is trading above the $0.120 level and the 100 simple moving average (4 hours).</li> 
 <li>There was a break above a key contracting triangle with resistance at $0.0845 on the 4-hour chart of the DOGE/USD pair (data source from Kraken).</li> 
 <li>The price could extend its rally above the $0.1280 and $0.130 resistance levels.</li> 
</ul> 
<h2 id="dogecoin-price-pumps-above-0-12">Dogecoin Price Pumps Above $0.12</h2> 
In the past few sessions, Dogecoin price started a strong increase from the $0.080 support zone. DOGE cleared many hurdles near $0.0850 to enter a positive zone. 
There was a break above a key contracting triangle with resistance at $0.0845 on the 4-hour chart of the DOGE/USD pair. It even broke the $0.100 resistance to move further into a positive zone like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-uptrend-70k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-bullish-spree-3500/" target="_blank" rel="noopener ">Ethereum</a>. 
It is up over 25% and trading above $0.120. A new multi-week high was formed near $0.1282 and the price is now correcting gains. The price is well above the 23.6% Fib retracement level of the recent surge from the $0.0845 swing low to the $0.1282 high. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Doegcoin-DOGE_3f9141.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-590611" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Doegcoin-DOGE_3f9141.png?resize=1024%2C461" alt="Dogecoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Doegcoin-DOGE_3f9141.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Doegcoin-DOGE_3f9141.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Doegcoin-DOGE_3f9141.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Doegcoin-DOGE_3f9141.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Doegcoin-DOGE_3f9141.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Doegcoin-DOGE_3f9141.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Doegcoin-DOGE_3f9141.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/DOGEUSD/" target="_blank" rel="noopener nofollow">DOGEUSD on TradingView.com</a> 
DOGE is also trading above the $0.1220 level and the 100 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.1280 level. The next major resistance is near the $0.1320 level. A close above the $0.1320 resistance might send the price toward the $0.1450 resistance. The next major resistance is near $0.150. Any more gains might send the price toward the $0.1620 level. 
<h2 id="downside-correction-in-doge">Downside Correction in DOGE?</h2> 
If DOGE’s price fails to gain pace above the $0.1280 level, it could start a downside correction. Initial support on the downside is near the $0.120 level. 
The next major support is near the $0.1065 level or the 50% Fib retracement level of the recent surge from the $0.0845 swing low to the $0.1282 high. If there is a downside break below the $0.1065 support, the price could decline further. In the stated case, the price might decline toward the $0.100 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 in the overbought zone. 
Major Support Levels – $0.120, $0.1065 and $0.10. 
Major Resistance Levels – $0.1280, $0.1320, and $0.150.

Dogecoin Price Soars 25%, Why DOGE Bulls Are Not Done Yet

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