Dogecoin started a fresh increase above the $0.1680 zone against the US Dollar. DOGE is now consolidating and might aim for a move above $0.1720. DOGE price started a fresh increase above the $0.1650 and $0.1680 levels. The price is trading above the $0.1680 level and the 100-hourly simple moving average. There is a bullish trend line forming with support at $0.1680 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start a fresh rally if it clears the $0.1720 and $0.1750 resistance levels. Dogecoin Price Eyes More Gains Dogecoin price started a fresh increase from the $0.1650 zone, like Bitcoin and Ethereum . DOGE was able to climb above the $0.1665 and $0.1680 resistance levels. The bulls even pushed the price above the $0.170 resistance. There was a steady increase and the price even spiked above the 50% Fib retracement level of the downward move from the $0.1722 swing high to the $0.1657 low. Dogecoin price is now trading above the $0.1680 level and the 100-hourly simple moving average. Besides, there is a bullish trend line forming with support at $0.1680 on the hourly chart of the DOGE/USD pair. Immediate resistance on the upside is near the $0.1720 level. The first major resistance for the bulls could be near the $0.1730 level or the 61.8% Fib retracement level of the downward move from the $0.1722 swing high to the $0.1657 low. The next major resistance is near the $0.1750 level. A close above the $0.1750 resistance might send the price toward the $0.180 resistance. Any more gains might send the price toward the $0.200 level. The next major stop for the bulls might be $0.2120. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.1750 level, it could start another decline. Initial support on the downside is near the $0.1680 level or the trend line zone. The next major support is near the $0.1650 level. The main support sits at $0.1610. If there is a downside break below the $0.1610 support, the price could decline further. In the stated case, the price might decline toward the $0.1550 level or even $0.1520 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1680 and $0.1650. Major Resistance Levels – $0.1720 and $0.1750.
