Dogecoin rose beyond $0.2320 against the US dollar. DOGE is reversing gains at $0.2180.
Above $0.220 and $0.230, the price of DOGE rose again.
Just below $0.2250 and the simple moving average of 100 hours.
The hourly chart of DOGE/USD shows an upward trend line with support at $0.220.
If it breaks $0.230, the price could rise again.
Rejection for the price of Dogecoin
The price of Dogecoin rose after finding support at $0.2110, like Bitcoin and Ethereum. DOGE surpassed the $0.220 barrier.
Bulls even broke the barrier of $0.2320. However, bears were active around $0.2380. The price fell after a peak of $0.2378. The upward move from the low of $0.2109 to the high of $0.2370 fell below the 50% Fibonacci retracement line.
Currently, Dogecoin is below $0.2250 and the simple moving average of 100 hours. The hourly chart of DOGE/USD shows an upward trend line connected with support at $0.220.
Near $0.2250 is the immediate barrier upward. Bulls may see the first resistance at $0.2320. Close to $0.2380 is the next significant resistance. A close above $0.2380 could push the price close to $0.250. Further advances could take the price towards $0.2720. Bulls may stop at $0.2850 next.
More losses for DOGE?
DOGE could fall again if it fails to surpass $0.2320. The initial support downward is $0.220. The next key support is at $0.2170, the 76.4% Fibonacci retracement level of the upward move from the low of $0.2109 to the high of $0.2370.
The main support is $0.2120. If the price breaks $0.2120, it could fall further. The price could drop to $0.20 or $0.1880 in the short term.
Technical indicators
The hourly MACD of DOGE/USD is turning negative.
The hourly RSI of DOGE/USD is below 50.
Main support levels: $0.220, $0.2120.
Main resistance levels: $0.2320, $0.2380.