Dogecoin (DOGE) Upside Potential: Will it Break Resistance?

Jakarta, Pintu News – Dogecoin (DOGE) is showing upward signals after moving steadily from the $0.220 zone against the US Dollar. Now, DOGE is starting to strengthen and has the potential to head towards the $0.2650 zone.

Dogecoin (DOGE) Price Increase

Dogecoin (DOGE) started a fresh increase after finding support near $0.2170, similar to Bitcoin (BTC) and Ethereum (ETH). DOGE managed to recover and surpass the $0.2250 resistance zone. Market participants pushed the price past the 50% Fibonacci retracement level of the move down from the high of $0.2531 to the low of $0.2173.

In addition, a bullish trend line connecting with the support at $0.2350 was formed on the hourly chart of the DOGE/USD pair. Currently, the Dogecoin (DOGE) price is trading above the $0.2350 level and the 100-hour simple moving average. Immediate resistance on the upside is near the $0.240 level.

Also Read: Bitcoin (BTC) Breaks $100K: What are the Hidden Risks Lurking?

Resistance and Upside Potential

The first major resistance for the buyers might be near the $0.2440 level and the 76.4% Fibonacci retracement level of the move down from the $0.2531 high to $0.2173 low. The next major resistance lies near the $0.2530 level. A close above the $0.2530 resistance could push the price towards the $0.2650 zone. Further upside will probably direct the price towards the $0.2720 level. The next station for the buyers might be $0.2850.

Possible Price Drop

If the Dogecoin (DOGE) price fails to break the $0.2440 level, there could be another drop. Initial support on the downside is near the $0.2350 level. The next major support is near the $0.2250 level. The major support lies at $0.2150. In case of a downward break of the $0.2150 support, the price could drop further. In that case, the price may drop towards the $0.20 or even $0.1880 level in the short term.

Technical Indicators

• MACD hourly
• MACD for DOGE/USD is currently gaining momentum in the bullish zone. – Hourly RSI (Relative Strength Index)
• The RSI for DOGE/USD is now above the 50 level.
• Key Support Levels – $0.2350 and $0.2250.
• Key Resistance Levels – $0.2440 and $0.2530.

Conclusion

Dogecoin (DOGE) shows potential to continue its upward trend with strong support and favorable indicators. Investors and traders should keep an eye on the mentioned resistance and support levels to make informed trading decisions.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Dogecoin (DOGE) Gears Up For Another Attempt To Break $0.2440. Accessed on May 14, 2025
• Featured Image: Generated by AI