Dogecoin (DOGE) Price Aims Higher, Could It Rise to $0.2650?

The article provides a brief overview of Dogecoin price movements and technical indicators. It highlights key support and resistance levels to watch as the cryptocurrency navigates new highs.

The price of Dogecoin is rising again from the $0.220 zone against the US Dollar. If the bulls remain in charge, we might see DOGE move towards the $0.2650 zone.

Dogecoin price is showing signs of a fresh increase after finding support near the $0.2173 zone. It seems that Bitcoin and Ethereum also found support around the same levels as Dogecoin.

DOGE climbed and recovered above the $0.2250 resistance zone. The bulls even pushed the price above the 50% Fib retracement level of the downward move from the $0.2531 swing high to the $0.2173 low.

Moreover, there is a connecting bullish trend line forming with support at $0.2350 on the hourly chart of the DOGE/USD pair.

Dogecoin price is now trading above the $0.2350 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.240 level.

The first major resistance for the bulls could be near the $0.2440 level and the 76.4% Fib retracement level of the downward move from the $0.2531 swing high to the $0.2173 low. The next major resistance is near the $0.2530 level.

A close above the $0.2530 resistance might send the price towards the $0.2650 resistance. Any more gains might send the price towards the $0.2720 level. The next major stop for the bulls might be $0.2850.

If DOGE’s price fails to rise above the $0.2440 level, it could start another decline. Initial support on the downside is near the $0.2350 level. The next major support is around the $0.2250 level.

The main support sits at $0.2150. If there is a downside break below the $0.2150 support, the price could decline further. In that case, the price might decrease towards the $0.20 level or even $0.1880 in the near term.

Dogecoin price will have to remain above the $0.1760 level to avoid a steep decline. The lower levels to watch on the downside are $0.1500 and $0.1200.

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 - $0.2350 and $0.2250.

Major Resistance Levels - $0.2440 and $0.2530.