Dogecoin

bullish

Resistance

Rise

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-surpasses-key-resistance-level/" data-wpel-link="internal">Dogecoin Surpasses Key Resistance Level</a> 
Dogecoin‘s (DOGE) price recently surpassed a significant resistance level, boosting investor optimism. After crossing the $0.10 level again, DOGE’s price seems poised for a new rise, potentially moving beyond the bear zone. 
<h2 style="text-align: justify" id="strong-preparing-for-a-new-rise-strong">Preparing for a New Rise</h2> 
Dogecoin had long been overshadowed due to <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>‘ uncertain sentiments. During the recent downturn, DOGE’s price lost over 20% and fell below the critical $0.1042 support. After a brief consolidation period, the <a href="https://en.coin-turk.com/analyst-who-tracks-every-bitcoin-move-warns-investors-about-these-3-altcoins/" data-wpel-link="internal">memecoin</a> surpassed important levels, indicating an upward trend. This recovery suggests Dogecoin’s price is preparing for a new rise. 
<img fetchpriority="high" decoding="async" class="aligncenter size-full wp-image-378331" src="https://coin-turk.com/wp-content/uploads/2024/08/Dogecoin-DOGE-Memecoin.png" alt="" width="1600" height="789"> 
DOGE‘s price movement often resembled a steep downtrend where the bullish effect was broken. The token reached the peak of consolidation, fell below the support level, and now has risen above the support turned resistance. This move could form a strong foundation for the next upward movement. Technical indicators suggest a relief period before a significant price move, as bulls seem to have been accumulating for a while. 
The memecoin rose above the support level again after a slight pullback following the break of the descending triangle formation. This price movement has given investors hope for the next price action. Additionally, the price rebounded after touching the lower level of the Bollinger Bands, which could lead to a move towards the upper band, near the $0.15 level. 
<h2 style="text-align: justify" id="strong-macd-and-dmi-indicators-do-not-support-the-rise-strong">MACD and DMI Indicators Do Not Support the Rise</h2> 
Unfortunately, the MACD and DMI indicators do not support this rise scenario despite the RSI showing a healthy increase. Although the selling pressure has decreased, a significant trend change should not be expected unless the buying volume increases. Therefore, Dogecoin’s price is expected to remain in horizontal consolidation for a while, holding above the gained support level. 
Volume has returned to initial levels, indicating that Dogecoin’s price could continue with its initial trend. Therefore, the largest memecoin is expected to remain passive until there is a significant increase in buying volume. 
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Dogecoin Surpasses Key Resistance Level

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