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Dogecoin (DOGE) Eyes $0.50 Again: Is a New Rally on the Horizon?

November 18, 2024Updated:November 18, 2024No Comments3 Mins Read
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Dogecoin is consolidating good points above the $0.320 resistance towards the US Greenback. DOGE is holding good points and eyeing extra upsides above $0.400.

  • DOGE value began a consolidating like Bitcoin and stayed above the $0.320 resistance stage.
  • The value is buying and selling close to the $0.3750 stage and the 100-hourly easy shifting common.
  • There was a break above a key bearish pattern line with resistance at $0.3670 on the hourly chart of the DOGE/USD pair (information supply from Kraken).
  • The value might proceed to rally if it clears the $0.400 and $0.4150 resistance ranges.

Dogecoin Value Eyes Contemporary Surge

Dogecoin value began a consolidating part above the $0.320 zone like Bitcoin and Ethereum. DOGE fashioned a base above $0.350 and is presently rising.

There was a transfer above the $0.3550 and $0.3620 resistance ranges. The value climbed above the 23.6% Fib retracement stage of the downward transfer from the $0.4342 swing excessive to the $0.3400 low. There was additionally a break above a key bearish pattern line with resistance at $0.3670 on the hourly chart of the DOGE/USD pair.

Dogecoin value is now buying and selling close to the $0.3750 stage and the 100-hourly easy shifting common. Speedy resistance on the upside is close to the $0.3720 stage.

Dogecoin (DOGE) Eyes alt=

The subsequent main resistance is close to the $0.3880 stage or the 50% Fib retracement stage of the downward transfer from the $0.4342 swing excessive to the $0.3400 low. An in depth above the $0.3880 resistance may ship the worth towards the $0.400 resistance. Any extra good points may ship the worth towards the $0.4200 stage. The subsequent main cease for the bulls is perhaps $0.500.

Are Dips Restricted In DOGE?

If DOGE’s value fails to climb above the $0.3720 stage, it might begin a draw back correction. Preliminary help on the draw back is close to the $0.3650 stage. The subsequent main help is close to the $0.3500 stage.

The principle help sits at $0.320. If there’s a draw back break beneath the $0.320 help, the worth might decline additional. Within the said case, the worth may decline towards the $0.300 stage and even $0.2950 within the close to time period.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for DOGE/USD is now above the 50 stage.

Main Help Ranges – $0.3650 and $0.3500.

Main Resistance Ranges – $0.3720 and $0.3880.



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DOGE Dogecoin eyes Horizon Rally
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