Dogecoin Holds Strong Support: DOGE Primed for a Major Move Higher!

Dogecoin Surges Above Resistance, Eyes Higher Momentum

Dogecoin (DOGE) has broken through the $0.160 resistance level against the US dollar, signaling a potential rally. DOGE bulls have maintained their momentum, setting sights on a move above $0.1650.

Technical Analysis

• DOGE is trading above $0.160 and the 100-hourly simple moving average.
• A bullish trend line has formed with support near $0.160 on the DOGE/USD hourly chart.
• For sustained bullish momentum, DOGE must settle above $0.1650.

Bullish Outlook

• Resistance lies at $0.1640 and $0.1650.
• A breakout above $0.1650 could propel DOGE towards $0.1720 and $0.1750.
• Further gains could drive the price to $0.1800.

Cautionary Note

• Failure to break above $0.1650 could trigger a correction.
• Support levels to watch include $0.160, $0.1580, and $0.1520.

Technical Indicators

• Hourly MACD: Momentum is waning in the bullish zone.
• Hourly RSI: Above the 50 level, indicating positive sentiment.
• Major Support Levels: $0.1620, $0.1600, $0.1580
• Major Resistance Levels: $0.1640, $0.1650, $0.1720