Dogecoin

Strong

Bitcoin

Resistance

Dogecoin is moving higher above the $0.160 resistance zone against the US Dollar. DOGE is holding gains and might aim for a move above $0.1650. 
<ul> 
 <li>DOGE price is moving higher above the $0.160 resistance zone.</li> 
 <li>The price is trading above the $0.160 level and the 100-hourly simple moving average.</li> 
 <li>There is a key bullish trend line forming with support near $0.160 on the hourly chart of the DOGE/USD pair (data source from Kraken).</li> 
 <li>The price must settle above $0.1650 to gain bullish momentum and continue higher.</li> 
</ul> 
<h2 id="dogecoin-price-holds-support">Dogecoin Price Holds Support</h2> 
In the past few sessions, Dogecoin price started a steady increase above the $0.1500 zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-climbs-70k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-green-3880/" target="_blank" rel="noopener ">Ethereum</a>. DOGE bulls were able to push the price above the $0.160 resistance zone. 
The recent swing high was formed at $0.1646 before the price started a downside correction There was a drop below the $0.1620 support zone. The price spiked below the 23.6% Fib retracement level of the upward move from the $0.1571 swing low to the $0.1646 high. 
Dogecoin is now trading above the $0.160 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support near $0.160 on the hourly chart of the DOGE/USD pair. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/Doegcoin-DOGE.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="wp-image-611679 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Doegcoin-DOGE.png?resize=1024%2C449" alt="Dogecoin Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Doegcoin-DOGE.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/06/Doegcoin-DOGE.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/Doegcoin-DOGE.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/Doegcoin-DOGE.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/Doegcoin-DOGE.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/Doegcoin-DOGE.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/Doegcoin-DOGE.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
On the upside, the price is facing resistance near the $0.1640 level. The next major resistance is near the $0.1650 level. A close above the $0.1650 resistance might send the price toward the $0.1720 resistance. Any more gains might send the price toward the $0.1750 level. The next major stop for the bulls might be $0.1800. 
<h2 id="downside-correction-in-doge">Downside Correction In DOGE?</h2> 
If DOGE’s price fails to gain pace above the $0.1650 level, it could start another decline. Initial support on the downside is near the $0.160 level and the trend line. It is close to the 50% Fib retracement level of the upward move from the $0.1571 swing low to the $0.1646 high. 
The next major support is near the $0.1580 level. If there is a downside break below the $0.1580 support, the price could decline further. In the stated case, the price might decline toward the $0.1520 level. 
Technical Indicators 
Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. 
Major Support Levels – $0.1620, $0.1600 and $0.1580. 
Major Resistance Levels – $0.1640, $0.1650, and $0.1720.

Dogecoin Holds Strong Support: DOGE Primed for a Major Move Higher!

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