
Jakarta, Pintu News – Dogecoin has recently shown a significant increase, crossing the $0.1520 threshold against the US Dollar. Currently, DOGE is in a consolidation phase and may see a decline if it trades below $0.140. This increase comes alongside increases in Bitcoin and Ethereum , signaling a positive trend in the crypto market.
After successfully breaking above $0.1420, the price of Dogecoin (DOGE) started a significant rise. The crypto managed to cross the $0.1450 resistance, entering a positive zone that gave investors new hope. This rise continued until it reached a high of $0.1541, before finally experiencing a correction.
Currently, the Dogecoin (DOGE) price is below $0.150 and the 100-hourly simple moving average. There is a contraction triangle formation with resistance at $0.150 on the hourly chart of the DOGE/USD pair. If the price rises again, the next immediate resistance is near $0.1480.
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If Dogecoin (DOGE) manages to break above $0.150, this could be an early signal for further gains. The key resistance for the bulls is near $0.1540. A close above this resistance might push the price towards $0.1625. If this momentum continues, it is possible that the price will reach $0.1680, maybe even $0.1720.
Any significant price increase will depend heavily on market dynamics and investor sentiment. Technical analysis shows that the hourly MACD for DOGE/USD is losing momentum in the bullish zone, while the RSI (Relative Strength Index) is already below the 50 level.
On the other hand, if Dogecoin (DOGE) fails to break the $0.150 level, there is a possibility of a downward price correction. Initial support lies near $0.1450, with the next major support at $0.140. Key support is at $0.1360 or the 50% Fib retracement level of the last rise from $0.1155 to $0.1541.
In the event of a break below this support, the price of Dogecoin (DOGE) may continue to decline. In such a scenario, the price could drop towards $0.130 or even $0.1280 in the short term. This shows the importance of monitoring key support levels to anticipate further price movements.
Dogecoin (DOGE) is currently at an important crossroads. A rise above $0.150 could pave the way for further gains, while failure to hold this level could trigger a decline. Investors and traders should pay attention to technical indicators and market developments to make informed investment decisions.
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