Dogecoin Price Surges Above $0.1550, Faces Resistance at $0.1680

Dogecoin (DOGE) is experiencing a fresh increase, trading above the $0.1550 level against the US Dollar.

DOGE price has risen above the $0.150 and $0.1550 levels.
The current price is above $0.160 and the 100-hourly simple moving average.
A rising channel is forming with resistance at $0.1680 on the hourly chart.
If DOGE remains below the $0.180 zone, it could face a decline.

Current Price Action

DOGE started increasing from the $0.1420 zone and surpassed key resistance levels at $0.150 and $0.1550. A high of $0.1677 was reached, and the price is now consolidating above the 23.6% Fib retracement level of the move from $0.1427 to $0.1677.

Immediate resistance is near $0.1680, with further resistance at $0.1720 and $0.1750. A close above $0.1750 may push prices toward $0.180 and potentially $0.200, with a major target at $0.2120.

Potential for Decline

If DOGE fails to exceed the $0.1680 level, it may decline. Initial support is at $0.1620, followed by $0.1550, which aligns with the 50% Fib retracement level. A break below $0.1550 could lead to further declines toward $0.1420 or $0.1350.

Technical Indicators

Hourly MACD shows bullish momentum.
RSI is above the 50 level.
Major support levels are $0.1620 and $0.1550.
Major resistance levels are $0.1680 and $0.1800.