Dogecoin has begun to rise in value, moving above $0.1040. However, it’s currently encountering resistance around $0.1075, and further gains may be difficult.
- DOGE price started a recovery wave from $0.1020 and climbed above $0.1040.
- The price is trading below the $0.1075 level and the 100-hourly simple moving average.
- There was a break above a bearish trend line with resistance at $0.1040 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price could continue to move up if it stays above $0.1020.
Dogecoin Price Hits Resistance
Like a lot of other cryptos, including Bitcoin and Ethereum, Dogecoin has started to bounce back. I’ve been watching it climb, and it’s now broken through a couple of resistance levels at $0.1035 and $0.1040. It started recovering from around $0.1020, which is a good sign.
The price of DOGE/USD has been trending upward, moving above the 23.6% Fibonacci retracement level. It also broke past a downward-trending resistance line at $0.1040, according to the hourly chart.
Dogecoin is currently trading below $0.11 and its 100-hour moving average. If the price starts to rise again, it will likely encounter resistance around $0.1062. A stronger upward move could face further resistance near $0.1075, which also aligns with a key Fibonacci retracement level, calculated from a recent price swing between $0.1127 and $0.1021.
The price is currently facing resistance around $0.1088. If the price can break above this level, it could move towards $0.1120, and potentially even $0.1150. Traders watching for further increases might target $0.1165.
Another Decline In DOGE?
If DOGE doesn’t rise above $0.1075, its price might fall further. It will likely find some support around $0.1040, and stronger support around $0.1020.
Currently, the price is being supported around $0.10. If the price drops below this level, it could fall further. In that scenario, it might initially move towards $0.09650, and potentially even $0.0950, in the short 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 – $0.1040 and $0.1020.
Major Resistance Levels – $0.1075 and $0.1120.
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2026-05-21 09:35