Dogecoin Faces Resistance Amid Upward Trend
- Dogecoin price increased over $0.0850, reaching above $0.0880.
- DOGE is trading above the $0.0870 level and the 100-hourly simple moving average.
- A bullish trend line with support at $0.0870 is forming on the hourly chart of the DOGE/USD pair.
- Immediate resistance for DOGE is near the $0.0890 level, with major resistance at $0.0920.
- If DOGE fails to climb above $0.090, it may decline towards support levels at $0.0855 and potentially $0.0820.
Dogecoin’s price shows a positive trend as it remains supported above key levels, similar to Bitcoin and Ethereum. The current upward movement positions DOGE to test significant resistance points that could determine its short-term momentum.
The potential for further gains exists if Dogecoin can surpass resistance near the $00920 level, which might lead to a rally toward higher targets like $01050 (Source)
