{"id":36562,"date":"2024-02-29T05:52:39","date_gmt":"2024-02-29T09:52:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36562"},"modified":"2024-02-29T05:52:39","modified_gmt":"2024-02-29T09:52:39","slug":"dogecoin-price-soars-25-why-doge-bulls-are-not-done-yet","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/29\/dogecoin-price-soars-25-why-doge-bulls-are-not-done-yet\/","title":{"rendered":"Dogecoin Price Soars 25%, Why DOGE Bulls Are Not Done Yet"},"content":{"rendered":"

Dogecoin is up over 25% against the US Dollar. DOGE cleared the $0.120 resistance and might continue to rise toward the $0.132 resistance.<\/em><\/p>\n

DOGE started a strong increase after it broke the $0.0850 resistance against the US dollar.
\nThe price is trading above the $0.120 level and the 100 simple moving average (4 hours).
\nThere was a break above a key contracting triangle with resistance at $0.0845 on the 4-hour chart of the DOGE\/USD pair (data source from Kraken).
\nThe price could extend its rally above the $0.1280 and $0.130 resistance levels.<\/p>\n

Dogecoin Price Pumps Above $0.12<\/h2>\n

In the past few sessions, Dogecoin price started a strong increase from the $0.080 support zone. DOGE cleared many hurdles near $0.0850 to enter a positive zone.<\/p>\n

There was a break above a key contracting triangle with resistance at $0.0845 on the 4-hour chart of the DOGE\/USD pair. It even broke the $0.100 resistance to move further into a positive zone like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

It is up over 25% and trading above $0.120. A new multi-week high was formed near $0.1282 and the price is now correcting gains. The price is well above the 23.6% Fib retracement level of the recent surge from the $0.0845 swing low to the $0.1282 high.<\/p>\n

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

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

DOGE is also trading above the $0.1220 level and the 100 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.1280 level. The next major resistance is near the $0.1320 level. A close above the $0.1320 resistance might send the price toward the $0.1450 resistance. The next major resistance is near $0.150. Any more gains might send the price toward the $0.1620 level.<\/p>\n

Downside Correction in DOGE?<\/h2>\n

If DOGE\u2019s price fails to gain pace above the $0.1280 level, it could start a downside correction. Initial support on the downside is near the $0.120 level.<\/p>\n

The next major support is near the $0.1065 level or the 50% Fib retracement level of the recent surge from the $0.0845 swing low to the $0.1282 high. If there is a downside break below the $0.1065 support, the price could decline further. In the stated case, the price might decline toward the $0.100 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 in the overbought zone.<\/p>\n

Major Support Levels \u2013 $0.120, $0.1065 and $0.10.<\/p>\n

Major Resistance Levels \u2013 $0.1280, $0.1320, and $0.150.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Dogecoin is up over 25% against the US Dollar. DOGE cleared the $0.120 resistance and might continue to rise toward the $0.132 resistance.<\/em><\/p>\n

DOGE started a strong increase after it broke the $0.0850 resistance against the US dollar.
\nThe price is trading above the $0.120 level and the 100 simple moving average (4 hours).
\nThere was a break above a key contracting triangle with resistance at $0.0845 on the 4-hour chart of the DOGE\/USD pair (data source from Kraken).
\nThe price could extend its rally above the $0.1280 and $0.130 resistance levels.<\/p>\n

Dogecoin Price Pumps Above $0.12<\/h2>\n

In the past few sessions, Dogecoin price started a strong increase from the $0.080 support zone. DOGE cleared many hurdles near $0.0850 to enter a positive zone.<\/p>\n

There was a break above a key contracting triangle with resistance at $0.0845 on the 4-hour chart of the DOGE\/USD pair. It even broke the $0.100 resistance to move further into a positive zone like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

It is up over 25% and trading above $0.120. A new multi-week high was formed near $0.1282 and the price is now correcting gains. The price is well above the 23.6% Fib retracement level of the recent surge from the $0.0845 swing low to the $0.1282 high.<\/p>\n

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

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

DOGE is also trading above the $0.1220 level and the 100 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.1280 level. The next major resistance is near the $0.1320 level. A close above the $0.1320 resistance might send the price toward the $0.1450 resistance. The next major resistance is near $0.150. Any more gains might send the price toward the $0.1620 level.<\/p>\n

Downside Correction in DOGE?<\/h2>\n

If DOGE\u2019s price fails to gain pace above the $0.1280 level, it could start a downside correction. Initial support on the downside is near the $0.120 level.<\/p>\n

The next major support is near the $0.1065 level or the 50% Fib retracement level of the recent surge from the $0.0845 swing low to the $0.1282 high. If there is a downside break below the $0.1065 support, the price could decline further. In the stated case, the price might decline toward the $0.100 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 in the overbought zone.<\/p>\n

Major Support Levels \u2013 $0.120, $0.1065 and $0.10.<\/p>\n

Major Resistance Levels \u2013 $0.1280, $0.1320, and $0.150.<\/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-36562","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\/36562","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=36562"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36562\/revisions"}],"predecessor-version":[{"id":36568,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36562\/revisions\/36568"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36562"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}