Dogecoin

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/dogecoin-surges-surpassing-key-resistance-levels" rel="noopener noreferrer nofollow">Dogecoin Surges, Surpassing Key Resistance Levels</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/whale-moves-stir-speculation-in-dogecoin-market" rel="noopener noreferrer nofollow">Dogecoin</a>, the <a href="https://en.bitcoinhaber.net/the-excitement-of-bitcoin-price-increase-after-the-possible-approval-of-bitcoin-spot-etf" rel="noopener noreferrer nofollow">cryptocurrency</a> that started as a meme, has recently experienced a notable increase in value, climbing over 33% against the US dollar. The digital currency succeeded in breaking past the $0.120 barrier, aiming for the next resistance at approximately $0.132. Investors, having waited eagerly for such a movement, now express their optimism as the price ascends.</p>
<h2 id="breakthrough-in-dogecoin-s-market-position">Breakthrough in Dogecoin’s Market Position</h2>
<p style="text-align: justify">The crypto coin has surged from its support zone near $0.080, soaring past several resistance levels. A key moment was the breakthrough of a significant contracting triangle pattern on the 4-hour chart, which set off a rally beyond both the $0.0845 and $0.100 barriers. Dogecoin’s price has soared, now trading comfortably above $0.127.</p>
<p style="text-align: justify">After this rally, Dogecoin witnessed a natural price correction. The price pulled back slightly after reaching a high of $0.1282, yet it remains well above the 23.6% Fibonacci retracement level from the recent surge.</p>
<h2 id="forecasting-dogecoin-s-next-moves">Forecasting Dogecoin’s Next Moves</h2>
<p style="text-align: justify">Technically, Dogecoin is performing strongly, trading above the $0.1220 mark and the 100 simple moving average. There are potential resistance levels ahead at $0.1280 and $0.1320. Breaching the latter could propel the price towards the $0.1450 mark. Nonetheless, failure to maintain upward momentum may lead to a retest of the $0.120 support zone, with further key supports at $0.1065 and $0.100. Indicators such as the 4-hour MACD and RSI suggest bullish momentum but also caution of a possible overbought scenario.</p>
<p style="text-align: justify">While Dogecoin’s upward trajectory is evident, near-term corrections are possible. The ability to break through certain resistance or fall below support levels will dictate its short-term market behavior. Currently, Dogecoin trades at $0.127, with the market closely watching its next movements.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/dogecoin-surges-surpassing-key-resistance-levels" rel="noopener noreferrer nofollow">Dogecoin Surges, Surpassing Key Resistance Levels</a></h5>

Dogecoin Surges, Surpassing Key Resistance Levels

Table of Contents

BH NEWS

Other articles published on Feb 29, 2024

Technical Glitch Shakes Bitcoin’s Ascent

Transak and SKALE Partner to Solve High Gas Fees and Onboarding Challenges of Web3 Gaming (29 Feb)

Who Started the Rally in Bitcoin? When will the turn of altcoins come?

Sega Bolsters Transmedia Strategy with Industry Veteran Justin Scarpone

Darknet market crypto crimes on the rise in 2023, $1.7B revenue — Chainalysis

HSBC Hong Kong to allow investments into virtual assets in 2024

Join our free newsletter for daily crypto updates!