{"id":15888,"date":"2023-01-12T05:54:33","date_gmt":"2023-01-12T09:54:33","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15888"},"modified":"2023-01-12T05:54:33","modified_gmt":"2023-01-12T09:54:33","slug":"dogecoin-price-prints-bullish-pattern-why-close-above-0-08-is-critical","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/12\/dogecoin-price-prints-bullish-pattern-why-close-above-0-08-is-critical\/","title":{"rendered":"Dogecoin Price Prints Bullish Pattern, Why Close Above $0.08 Is Critical"},"content":{"rendered":"

Dogecoin formed a base near $0.066 and started a fresh increase against the US Dollar. DOGE could rise further if there is a close above the $0.080 resistance.<\/em><\/p>\n

DOGE gained pace and traded above the $0.075 resistance against the US dollar.
\nThe price is trading above the $0.0750 zone and the 100 simple moving average (4-hours).
\nThere is a key bullish trend line forming with support near $0.0740 on the 4-hours chart of the DOGE\/USD pair (data source from Kraken).
\nThe pair could rise further if there is a clear close above the $0.080 resistance.<\/p>\n

Dogecoin Price Signals Bullish<\/h2>\n

After a strong decline, dogecoin price found support near the $0.066 zone. DOGE remained well bid and started a steady increase above the $0.068 resistance.<\/p>\n

There was a clear move above the $0.070 resistance zone to set the pace for a decent increase. The price cleared the 23.6% Fib retracement level of the key decline from the $0.1402 swing high to $0.0658 low. The price is now trading above the $0.0750 zone and the 100 simple moving average (4-hours).<\/p>\n

There is also a key bullish trend line forming with support near $0.0740 on the 4-hours chart of the DOGE\/USD pair. In the past few sessions, doge saw bullish moves above $0.075, similar to bitcoin<\/a> and ethereum<\/a>.<\/p>\n

On the upside, the price is facing resistance near the $0.080 level. The first major resistance is near the $0.0820 level. A clear move above the $0.082 resistance might send the price towards the $0.088 resistance. It is near the 50% Fib retracement level of the key decline from the $0.1402 swing high to $0.0658 low.<\/p>\n

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

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

Any more gains might send the price towards the $0.090 level. A clear move above the $0.090 resistance could open the gates for a rally towards the $0.100 level.<\/p>\n

Dips Limited in DOGE?<\/h2>\n

If DOGE price fails to gain pace above the $0.082 level, it could started a downside correction. An initial support on the downside is near the $0.0765 level.<\/p>\n

The next major support is near the $0.074 level and the trend line. If there is a downside break below the $0.074 support, the price could decline further. In the stated case, the price might decline towards the $0.070 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $0.0765, $0.0740 and $0.0700.<\/p>\n

Major Resistance Levels \u2013 $0.080, $0.0850 and $0.088.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Dogecoin formed a base near $0.066 and started a fresh increase against the US Dollar. DOGE could rise further if there is a close above the $0.080 resistance.<\/em><\/p>\n

DOGE gained pace and traded above the $0.075 resistance against the US dollar.
\nThe price is trading above the $0.0750 zone and the 100 simple moving average (4-hours).
\nThere is a key bullish trend line forming with support near $0.0740 on the 4-hours chart of the DOGE\/USD pair (data source from Kraken).
\nThe pair could rise further if there is a clear close above the $0.080 resistance.<\/p>\n

Dogecoin Price Signals Bullish<\/h2>\n

After a strong decline, dogecoin price found support near the $0.066 zone. DOGE remained well bid and started a steady increase above the $0.068 resistance.<\/p>\n

There was a clear move above the $0.070 resistance zone to set the pace for a decent increase. The price cleared the 23.6% Fib retracement level of the key decline from the $0.1402 swing high to $0.0658 low. The price is now trading above the $0.0750 zone and the 100 simple moving average (4-hours).<\/p>\n

There is also a key bullish trend line forming with support near $0.0740 on the 4-hours chart of the DOGE\/USD pair. In the past few sessions, doge saw bullish moves above $0.075, similar to bitcoin<\/a> and ethereum<\/a>.<\/p>\n

On the upside, the price is facing resistance near the $0.080 level. The first major resistance is near the $0.0820 level. A clear move above the $0.082 resistance might send the price towards the $0.088 resistance. It is near the 50% Fib retracement level of the key decline from the $0.1402 swing high to $0.0658 low.<\/p>\n

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

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

Any more gains might send the price towards the $0.090 level. A clear move above the $0.090 resistance could open the gates for a rally towards the $0.100 level.<\/p>\n

Dips Limited in DOGE?<\/h2>\n

If DOGE price fails to gain pace above the $0.082 level, it could started a downside correction. An initial support on the downside is near the $0.0765 level.<\/p>\n

The next major support is near the $0.074 level and the trend line. If there is a downside break below the $0.074 support, the price could decline further. In the stated case, the price might decline towards the $0.070 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $0.0765, $0.0740 and $0.0700.<\/p>\n

Major Resistance Levels \u2013 $0.080, $0.0850 and $0.088.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-15888","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\/15888","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=15888"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15888\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15888"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}