Woof! Dogecoin (DOGE) is about to take off, what are you still lying down for?
After briefly dipping to the $0.1650 area, the price of Dogecoin (DOGE) quickly stabilized and began a new round of upward movement. With the overall rebound in the market, DOGE broke through the key resistance at $0.170 and stabilized above $0.1750 and the 100-hour moving average, showing upward momentum.
The technical pattern is bullish, with a short-term target pointing to $0.1850.
Current price trends show that DOGE is moving along an upward trend line on the hourly chart, with support around $0.1740.
Multiple technical indicators also support the bullish expectation, with MACD continuing to strengthen and RSI above the 50 level.
If the bulls can successfully break through the resistance in the $0.1790 to $0.1840 range, the price is expected to continue its upward trend, hitting $0.1880, and even further testing $0.1920 to the psychological level of $0.200.
If it encounters resistance and falls back, watch the support area.
However, if DOGE fails to break through the $0.1790 resistance area, it may face short-term pullback pressure.
$0.1740 is the first support level, and if that point is breached, $0.1720 and $0.1650 will become key defensive lines.
Once lost, the price may fall to $0.1550, or even lower to $0.1450.
Market outlook: Short-term bullish, focus on resistance breakthrough.
Overall, Dogecoin is in a short-term upward trend.
If the bulls can hold the key support and successfully break through $0.1850, a new round of upward movement may be on the horizon.
Investors are advised to pay attention to changes in trading volume and the performance at breakout levels to determine whether effective upward movement is formed.
