Dogecoin Price Consolidates Above $0.250 with Resistance at $0.2655
Dogecoin (DOGE) is experiencing a recovery, trading above $0.250 following a decline from the $0.2940 resistance level. Key points include:
- DOGE initiated a recovery above $0.2500 and $0.2520.
- Currently trading above the 100-hourly simple moving average.
- Breakout occurred above the bearish trend line at $0.2515.
- Immediate resistance at $0.260; major resistance at $0.2655 and $0.2725.
- A close above $0.2725 may push the price toward $0.300 and potentially $0.320.
If DOGE fails to surpass $0.260, it may decline. Support levels are:
- Initial support near $0.2520.
- Major support at $0.250 and $0.2380.
A drop below $0.2380 could lead to further declines towards $0.2250 or $0.2120.
Technical indicators show bullish momentum with MACD gaining in the bullish zone and RSI above 50.