šŸ¶ Dogecoin Treads Water: Expect More Jumps or Jolts?

by

In an unsurprising turn of events – as if penned by some cosmic comedian – Dogecoin, that whimsical plaything of the markets, has vaulted above the gallant $0.1520 mark against the grand old US Dollar. Now, it dawdles in limbo, brooding in the shadow of a potential downturn should it stoop below the humble $0.140. šŸ˜

  • DOGE, with the audacity that only a buoyant pup can muster, surged anew above $0.1480 and $0.1520.
  • The dollar amount – placing itself tentatively under $0.150 and just shy of the lauded 100-hourly simple moving average – settles like a bird contemplating its next flight.
  • A geometric marvel comes into view: a contracting triangle with its apex at $0.150, hobnobbing on the hourly chart (courtesy of Kraken) like a tight-lipped aristocrat at a data soirĆ©e.
  • Calm in the dollar ranks could hint at another leap, if DOGE nibbles safely above the yellow line at $0.140.

After seizing the reins from $0.1420 – a feat mirroring the vaunted ascents of Bitcoin and Ethereum – DOGE was bold enough to dance above $0.1450. The prancing beast nudged past $0.150, peaking at $0.1541 before choosing to regale us with a gentle dip. A misstep below the sly 23.6% Fib retracement of the upward flight from the dignified $0.1155 trough to the $0.1541 zenith proved it could still be humbled by its own hubris.

Now, DOGE jauntily skulks beneath the $0.150 mark and the watchful 100-hourly average, besieged by the contracting triangle with $0.150 at its door.

Dogecoin Chart

Should it regain its flamboyance, the next barricade on the ascent aligns at the $0.1480 landmark. A charge through the $0.150 frontier enters the realm of major resistance, with the $0.1540 bastion and beyond – perhaps towards $0.1625 or even $0.1680. A fearless breach here might coax it to heights unknown, possibly $0.1720.

Yet, in this erratic tango, shadows also lurk. Failure to scale the $0.150 summit might spell discord; the price could drift towards the comforting embrace of $0.1450 support. Below this line, a deeper plunge is envisaged, to $0.140 and then, if it can’t resist falling into deeper pits, perhaps to the soul-crushing depths at $0.1360 – the half-way Fib marker from aforementioned trough and zenith. Perchance, it might spiral towards $0.130, or even $0.1280, if despair runs its course.

Technical Indicators (A kind of numerical divination)

Hourly MACD – Alas, the bullish bravado wanes as MACD for DOGE/USD finds itself faltering amidst the idyllic bullish zone.

Hourly RSI (Relative Strength Index) – Lurking below the blessed 50 mark, the RSI for DOGE/USD bespeaks a silent lament.

Major Supports: Among the ruins, $0.1450 and $0.1400 stand as solemn guardians.

Major Resistances: Holding the line at $0.1500 and $0.1540 – watchtowers against descent.

Read More

2026-01-08 08:13