Dogecoin Faces Resistance at $0.1450 Amid Recovery Attempts

Dogecoin Recovery and Resistance

  • Dogecoin (DOGE) has initiated a recovery wave above $0.140, trading above the 100-hourly simple moving average.
  • A bullish trend line is forming with support at $0.1405 on the hourly chart.
  • DOGE faces resistance near $0.1450 and could struggle to move higher if it stays below $0.140 and $0.1380.

Price Dynamics

  • DOGE climbed above the $0.1380 and $0.140 resistance levels, similar to Bitcoin and Ethereum.
  • The price surpassed the 23.6% Fib retracement level from the $0.1532 high to the $0.1351 low but bears are active around $0.1440 - $0.1450.
  • A potential upward move could face resistance at $0.1450 and $0.1490.
  • The next significant resistance levels are $0.1530 and potentially $0.1620, with further gains possibly reaching $0.170 or $0.1720.

Dogecoin Price

Potential Downtrend

  • If DOGE fails to break above $0.1450, it may decline with initial support near $0.140 and major support at $0.1350.
  • A breakdown below $0.1350 could see prices drop to $0.1265 or $0.1250.

Technical Indicators

  • Hourly MACD: Losing momentum in the bullish zone.
  • Hourly RSI: Below the 50 level.
  • Key Support Levels: $0.1400 and $0.1350.
  • Key Resistance Levels: $0.1450 and $0.1530.