Is Dogecoin About to Take Off? Indicators Suggest Upward Momentum Ahead

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	454,980,278,414	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

454,980,278,414

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	24.10	0.64%	3,783.53	3,783.49	3,783.56

Price Change

Price Change %

Current Price

Bid Price

Offer

24.10

0.64%

3,783.53

3,783.49

3,783.56

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,790.87	3,748.31	3,759.74	3,759.43	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,790.87

3,748.31

3,759.74

3,759.43

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	07:06:35	0.079290	3,783.54	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

07:06:35

0.079290

3,783.54

USD

Price x Volume	Volume	Base Symbol	Related Pairs
30,992,345.76	8,222.66	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

30,992,345.76

8,222.66

Is Dogecoin About to Take Off? Indicators Suggest Upward Momentum Ahead

17/05/2024 5:28am

NEWSBTC

Dogecoin corrected gains and tested the $0.150 zone against the US Dollar. DOGE is now forming a base and might start a fresh increase above $0.1520. DOGE price jumped toward $0.160 before correcting gains. The price is trading above the $0.150 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.1485 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1540 to move into a positive zone and start a fresh surge. Dogecoin Price Holds Support After a steady increase, Dogecoin price faced resistance near the $0.160 zone. A high was formed at $0.1594 before DOGE started a downside correction like Bitcoin and Ethereum. There was a drop below the $0.1540 support zone. A low was formed at $0.1488 and DOGE is now consolidating for the next move. Dogecoin is still trading above the $0.150 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.1485 on the hourly chart of the DOGE/USD pair. On the upside, the price is facing resistance near the $0.1515 level. It is near the 23.6% Fib retracement level of the downward move from the $0.1594 swing high to the $0.1488 low. The next major resistance is near the $0.1540 level or the 50% Fib retracement level of the downward move from the $0.1594 swing high to the $0.1488 low. A close above the $0.1540 resistance might send the price toward the $0.160 resistance. Any more gains might send the price toward the $0.1650 level. The next major stop for the bulls might be $0.1720. More Losses In DOGE? If DOGE’s price fails to gain pace above the $0.1540 level, it could start another decline. Initial support on the downside is near the $0.150 level and the trend line. The next major support is near the $0.1445 level. If there is a downside break below the $0.1445 support, the price could decline further. In the stated case, the price might decline toward the $0.1350 level. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1500, $0.1445 and $0.1350. Major Resistance Levels – $0.1515, $0.1540, and $0.1600.

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