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Dogecoin Holds $0.1680 Support, Eyes Fresh Increase
Dogecoin has corrected below $0.1780 against the US Dollar, holding the $0.1680 support level, and may aim for a fresh increase.
- DOGE experienced a downside correction below $0.1780.
- The price is under $0.1760 and the 100-hourly simple moving average.
- A bearish trend line with resistance at $0.1760 is forming on the hourly DOGE/USD chart.
- If stable above $0.1680, DOGE might increase again.
Potential Price Movements
- DOGE failed to surpass $0.1880, leading to a decline below $0.1820 and $0.180.
- The price dipped below the 50% Fib retracement but found support near $0.1680.
- Immediate resistance is around $0.1760.
- The first major resistance for an upward move is near $0.1820; the next is $0.1880.
Support and Resistance Levels
- Failure to rise above $0.1820 could lead to declines, with support at $0.170 and $0.1680.
- Main support is at $0.1640, with potential declines to $0.1550 or $0.1520 if breached.
Technical Indicators
- Hourly MACD shows bullish momentum.
- Hourly RSI is above 50, indicating a positive trend.
- Major support levels: $0.1700, $0.1680.
- Major resistance levels: $0.1760, $0.1820.
