Dogecoin (DOGE) Strengthens as Altcoin Rally Signals Renewed Risk Appetite

The next major resistance is near the $0.1080 level. A close above the $0.1080 resistance might send the price toward $0.1120. Any more gains might send the price toward $0.120. The next major stop for the bulls might be $0.1220.

Another Decline In DOGE？

If DOGEs price fails to climb above the $0.1050 level, it could start a downside correction. Initial support on the downside is near the $0.10 level. The next major support is near the $0.0.988 level or the 50% Fib retracement level of the upward move from the $0.0910 swing low to the $0.1061 high.

The main support sits at $0.0950. If there is a downside break below the $0.0950 support, the price could decline further. In the stated case, the price might slide toward the $0.0920 level or even $0.090 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.0988 and $0.0.950.

Major Resistance Levels – $0.1050 and $0.1120.