{"id":11491,"date":"2022-11-08T08:52:49","date_gmt":"2022-11-08T12:52:49","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=11491"},"modified":"2022-11-08T08:52:49","modified_gmt":"2022-11-08T12:52:49","slug":"dogecoin-doge-makes-u-turn-why-this-support-might-start-fresh-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/08\/dogecoin-doge-makes-u-turn-why-this-support-might-start-fresh-increase\/","title":{"rendered":"Dogecoin (DOGE) Makes U-Turn, Why This Support Might Start Fresh Increase"},"content":{"rendered":"

Dogecoin declined heavily from the $0.160 resistance against the US Dollar. DOGE could start a fresh increase if it stays above the $0.090 support zone.<\/em><\/p>\n

DOGE topped near the $0.160 zone and started a fresh decline against the US dollar.
\nThe price is trading well above the $0.0700 zone and the 100-day simple moving average.
\nThere was a break below a key rising channel with support near $0.1180 on the daily chart of the DOGE\/USD pair (data source from Kraken).
\nThe pair must stay above the $0.090 support zone to avoid more losses.<\/p>\n

Dogecoin Trims Gains<\/h2>\n

In the past few days, dogecoin saw a strong bullish wave above the $0.070 resistance zone. DOGE rallied significantly above the $0.100 resistance, outpacing bitcoin<\/a> and ethereum<\/a>.<\/p>\n

The bulls were able to pump the price above the $0.12 resistance zone. Finally, there was a spike above the $0.15 level. The price traded as high as $0.1609 and recently started a downside correction. There was a clear move below the $0.142 and $0.135 support levels.<\/p>\n

Doge price declined below the 50% Fib retracement level of the upward move from the $0.0551 swing low to $0.1609 high. Besides, there was a break below a key rising channel with support near $0.1180 on the daily chart of the DOGE\/USD pair.<\/p>\n

The price is now testing a major support zone at $0.0955. It is near the 61.8% Fib retracement level of the upward move from the $0.0551 swing low to $0.1609 high.<\/p>\n

<\/a><\/p>\n

Source: DOGEUSD on TradingView.com<\/a><\/p>\n

If there is a downside break below the $0.0955 support, the price could correct further. The main support is forming near the $0.0900 and $0.0895 levels. Any more losses could open the doors for a move towards the $0.0550 level.<\/p>\n

Fresh Increase in DOGE?<\/h2>\n

If DOGE price remains stable above the $0.0955 support, there are chances of a fresh increase. An initial resistance on the upside is near the $0.1150 level.<\/p>\n

The first major resistance is near the $0.1200 level. Any more gains above the $0.1200 zone could encourage the bulls to aim a test the important $0.135 level.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for DOGE\/USD is now gaining momentum in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for DOGE\/USD is now near the 50 level.<\/p>\n

Major Support Levels \u2013 $0.0955, $0.0900 and $0.0550.<\/p>\n

Major Resistance Levels \u2013 $0.1150, $0.1200 and $0.1350.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Dogecoin declined heavily from the $0.160 resistance against the US Dollar. DOGE could start a fresh increase if it stays above the $0.090 support zone.<\/em><\/p>\n

DOGE topped near the $0.160 zone and started a fresh decline against the US dollar.
\nThe price is trading well above the $0.0700 zone and the 100-day simple moving average.
\nThere was a break below a key rising channel with support near $0.1180 on the daily chart of the DOGE\/USD pair (data source from Kraken).
\nThe pair must stay above the $0.090 support zone to avoid more losses.<\/p>\n

Dogecoin Trims Gains<\/h2>\n

In the past few days, dogecoin saw a strong bullish wave above the $0.070 resistance zone. DOGE rallied significantly above the $0.100 resistance, outpacing bitcoin<\/a> and ethereum<\/a>.<\/p>\n

The bulls were able to pump the price above the $0.12 resistance zone. Finally, there was a spike above the $0.15 level. The price traded as high as $0.1609 and recently started a downside correction. There was a clear move below the $0.142 and $0.135 support levels.<\/p>\n

Doge price declined below the 50% Fib retracement level of the upward move from the $0.0551 swing low to $0.1609 high. Besides, there was a break below a key rising channel with support near $0.1180 on the daily chart of the DOGE\/USD pair.<\/p>\n

The price is now testing a major support zone at $0.0955. It is near the 61.8% Fib retracement level of the upward move from the $0.0551 swing low to $0.1609 high.<\/p>\n

<\/a><\/p>\n

Source: DOGEUSD on TradingView.com<\/a><\/p>\n

If there is a downside break below the $0.0955 support, the price could correct further. The main support is forming near the $0.0900 and $0.0895 levels. Any more losses could open the doors for a move towards the $0.0550 level.<\/p>\n

Fresh Increase in DOGE?<\/h2>\n

If DOGE price remains stable above the $0.0955 support, there are chances of a fresh increase. An initial resistance on the upside is near the $0.1150 level.<\/p>\n

The first major resistance is near the $0.1200 level. Any more gains above the $0.1200 zone could encourage the bulls to aim a test the important $0.135 level.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for DOGE\/USD is now gaining momentum in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for DOGE\/USD is now near the 50 level.<\/p>\n

Major Support Levels \u2013 $0.0955, $0.0900 and $0.0550.<\/p>\n

Major Resistance Levels \u2013 $0.1150, $0.1200 and $0.1350.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-11491","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=11491"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11491\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=11491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=11491"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=11491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}