Dogecoin (DOGE) Makes U-Turn, Why This Support Might Start Fresh Increase

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	18,969,030,038	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

18,969,030,038

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00026	0.20%	0.13233	0.1323	0.13232

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00026

0.20%

0.13233

0.1323

0.13232

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.13582	0.13124	0.13189	0.13207	0.055475 - 0.228990

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.13582

0.13124

0.13189

0.13207

0.055475 - 0.228990

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:53:14	67.80	0.13233	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

08:53:14

67.80

0.13233

USD

Price x Volume	Volume	Base Symbol	Related Pairs
14,451,842.28	107,888,202.59	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

14,451,842.28

107,888,202.59

Dogecoin (DOGE) Makes U-Turn, Why This Support Might Start Fresh Increase

08/11/2022 8:29am

NEWSBTC

Dogecoin declined heavily from the $0.160 resistance against the US Dollar. DOGE could start a fresh increase if it stays above the $0.090 support zone. DOGE topped near the $0.160 zone and started a fresh decline against the US dollar. The price is trading well above the $0.0700 zone and the 100-day simple moving average. There was a break below a key rising channel with support near $0.1180 on the daily chart of the DOGE/USD pair (data source from Kraken). The pair must stay above the $0.090 support zone to avoid more losses. Dogecoin Trims Gains In the past few days, dogecoin saw a strong bullish wave above the $0.070 resistance zone. DOGE rallied significantly above the $0.100 resistance, outpacing bitcoin and ethereum. The bulls were able to pump the price above the $0.12 resistance zone. Finally, there was a spike above the $0.15 level. The price traded as high as $0.1609 and recently started a downside correction. There was a clear move below the $0.142 and $0.135 support levels. Doge price declined below the 50% Fib retracement level of the upward move from the $0.0551 swing low to $0.1609 high. Besides, there was a break below a key rising channel with support near $0.1180 on the daily chart of the DOGE/USD pair. The price is now testing a major support zone at $0.0955. It is near the 61.8% Fib retracement level of the upward move from the $0.0551 swing low to $0.1609 high. Source: DOGEUSD on TradingView.com If there is a downside break below the $0.0955 support, the price could correct further. The main support is forming near the $0.0900 and $0.0895 levels. Any more losses could open the doors for a move towards the $0.0550 level. Fresh Increase in DOGE? If DOGE price remains stable above the $0.0955 support, there are chances of a fresh increase. An initial resistance on the upside is near the $0.1150 level. The first major resistance is near the $0.1200 level. Any more gains above the $0.1200 zone could encourage the bulls to aim a test the important $0.135 level. Technical Indicators 4-Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now near the 50 level. Major Support Levels – $0.0955, $0.0900 and $0.0550. Major Resistance Levels – $0.1150, $0.1200 and $0.1350.

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DOGEUSD Dogecoin