Dogecoin starts a new price increase from the $0.1650 area against the US dollar. DOGE is currently gaining momentum and could rise to the $0.185 area.

  • DOGE price starts to rise again above $0.170 and $0.172.

  • The price is trading above $0.1750 and the 100-hour simple moving average.

  • There is a bullish trend line forming with support at $0.1740 on the hourly chart of the DOGE/USD pair (data source from Kraken).

  • The price could start to rise again if it breaks through the resistance area of $0.180.

Dogecoin price aims for higher targets

Dogecoin price started to rise again after finding support near $0.1650, similar to Bitcoin and Ethereum. DOGE has increased and recovered above the resistance area of $0.170.

Buyers have pushed the price above the 50% Fib retracement level of the downward move from the high of $0.1843 to the low of $0.1642. Additionally, there is a bullish trend line forming with support at $0.1740 on the hourly chart of the DOGE/USD pair.

The Dogecoin price is currently trading above $0.1750 and the 100-hour simple moving average. The immediate resistance above is near $0.1780.

The first major resistance level for buyers could be near $0.1790 and the 76.4% Fibonacci retracement level of the downward move from the high of $0.1843 to the low of $0.1642. The next major resistance level is near $0.1840. A close above the resistance of $0.1840 could push the price towards the resistance of $0.1880. Any further increase could push the price towards $0.1920. The next major stop for buyers could be $0.200.

Is DOGE continuing to decline?

If the DOGE price does not break above $0.1790, it could start another downward move. Initial support on the decline is near $0.1740. The next major support is near $0.1720.

The main support is at $0.1650. If there is a break below the support of $0.1650, the price could decline further. In that case, the price could drop to $0.1550 or even $0.1450 in the near future.

Technical indicators

Hourly MACD – The MACD for DOGE/USD is currently accelerating in the bullish zone.

The hourly relative strength index (RSI) – The RSI for DOGE/USD is currently above 50.

Major support – $0.1740 and $0.1720.

Major resistance – $0.1790 and $0.1850.