Dogecoin Price Rises Above $0.220, Eyes $0.265 Resistance

Dogecoin Price Analysis

DOGE began an upward trend from the $0.220 level against the US Dollar.
The price is above $0.2350 and the 100-hourly simple moving average.
A bullish trend line is forming with support at $0.2350.
Clearing the $0.2450 resistance zone may lead to further increases.

Dogecoin found support near $0.2170 and rose above $0.2250, surpassing the 50% Fibonacci retracement level from the recent downward movement. The immediate resistance is around $0.240.

Key resistances include:

$0.2440 (76.4% Fib retracement)
$0.2530
$0.2650 for potential gains
$0.2720 and $0.2850 as further targets

If DOGE fails to rise above $0.2440, it may decline, with initial supports at $0.2350 and $0.2250. The main support is at $0.2150; a break below could see prices drop to $0.20 or $0.1880.

Technical indicators show:

MACD gaining momentum in the bullish zone
RSI above 50