There was a move above the $0.075 and $0.080 levels. Besides, there was a break above a key bearish trend line with resistance near $0.088 on the 4-hours chart of the DOGE/USD pair. The price is now trading well below the $0.110 zone and the 100 simple moving average (4 hours).
On the upside, the price is facing resistance near the $0.0915 level. It is near the 23.6% Fib retracement level of the downward move from the $0.1609 swing high to the $0.0699 low.
The first major resistance is near the $0.1100 level and the 100 simple moving average (4 hours). Any more gains above the $0.1100 zone could encourage the bulls to aim a test the 50% Fib retracement level of the downward move from the $0.1609 swing high to the $0.0699 low at $0.115.
If DOGE’s price fails to gain pace above the $0.10 level, it could start another decline. Initial support on the downside is near the $0.0820 level.
The next major support is near the $0.070 level. If there is a downside break below the $0.070 support, the price could decline further. The main support is at the $0.0500 level. Any more losses could open the doors for a move toward the $0.0450 level
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