Dogecoin

Bitcoin

Resistance

Dogecoin is stuck below the $0.1285 resistance zone against the US Dollar. DOGE is consolidating and might eye a fresh increase toward $0.1285 or even $0.1320. 
<ul> 
 <li>DOGE price is struggling to clear the $0.1285 resistance zone.</li> 
 <li>The price is trading near the $0.1240 level and the 100-hourly simple moving average.</li> 
 <li>There is a short-term bullish flag pattern forming with resistance at $0.1250 on the hourly chart of the DOGE/USD pair (data source from Kraken).</li> 
 <li>The price must settle above $0.1250 and $0.1285 to gain bullish momentum.</li> 
</ul> 
<h2 id="dogecoin-price-faces-hurdles">Dogecoin Price Faces Hurdles</h2> 
After a decent recovery wave, Dogecoin price remained below the $0.1285 resistance zone. DOGE formed a high near $0.1272 and recently started a downside correction like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-challenge-63650/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-correction-3420/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a move below the $0.1250 support level. The price dipped below the 50% Fib retracement level of the upward move from the $0.1203 swing low to the $0.1272 high. However, the bulls are now active near the $0.1220 zone. 
Dogecoin is now trading near the $0.1250 level and the 100-hourly simple moving average. It is also above the 61.8% Fib retracement level of the upward move from the $0.1203 swing low to the $0.1272 high. 
If there is a fresh increase, the price might face resistance near the $0.1250 level. There is also a short-term bullish flag pattern forming with resistance at $0.1250 on the hourly chart of the DOGE/USD pair. The next major resistance is near the $0.1285 level. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/Doegcoin-DOGE.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-627308 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Doegcoin-DOGE.png?resize=1024%2C461" alt="Dogecoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Doegcoin-DOGE.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/Doegcoin-DOGE.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Doegcoin-DOGE.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/Doegcoin-DOGE.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/Doegcoin-DOGE.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/Doegcoin-DOGE.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/Doegcoin-DOGE.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A close above the $0.1285 resistance might send the price toward the $0.1320 resistance. Any more gains might send the price toward the $0.1350 level. The next major stop for the bulls might be $0.150. 
<h2 id="more-downsides-in-doge">More Downsides In DOGE?</h2> 
If DOGE’s price fails to gain pace above the $0.1250 level, it could continue to move down. Initial support on the downside is near the $0.1230 level. 
The next major support is near the $0.1220 level. If there is a downside break below the $0.1220 support, the price could decline further. In the stated case, the price might decline toward the $0.1185 level. 
Technical Indicators 
Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. 
Major Support Levels – $0.1230, $0.1220 and $0.1185. 
Major Resistance Levels – $0.1250, $0.1285, and $0.1320.

Dogecoin’s Potential: Can DOGE Price Kick Off a New Climb?

목차

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