Dogecoin Price Consolidates Above $0.130 Amid Bullish Trend

Dogecoin (DOGE) Price Overview:

  • DOGE price increased above $0.1280 and is currently trading above $0.130.
  • A bullish trend line with support at $0.1315 is forming on the hourly DOGE/USD chart.
  • The price may rise further if it stays above $0.1280.

Current Market Situation:

  • Price correction occurred after reaching a high of $0.1352, now trading below $0.130.
  • Immediate resistance levels are at $0.1350, $0.1380, and potentially $0.1420.
  • If sustained above $0.1420, the price might target $0.1460 and possibly $0.150 or $0.1550.

Dogecoin Price

Potential Downside Movement:

  • If unable to surpass $0.1350, DOGE might correct downwards.
  • Support levels include $0.1310, $0.1275, and $0.1235.
  • A break below $0.1235 could lead to declines towards $0.1220 or $0.120.

Technical Indicators:

  • Hourly MACD shows decreasing momentum in the bullish zone.
  • Hourly RSI is below 50, indicating potential downward pressure.

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