Dogecoin is gaining pace above the $0.088 resistance against the US Dollar. DOGE could rise further if there is a close above the $0.093 resistance. DOGE gained pace and traded above the $0.088 resistance against the US dollar. The price is trading above the $0.088 zone and the 100 simple moving average (4-hours). There is a crucial bullish trend line forming with support near $0.0868 on the 4-hours chart of the DOGE/USD pair (data source from Kraken). The pair could rise further if there is a clear close above the $0.093 resistance. Dogecoin Price Eyes More Gains After forming a base above the $0.080 zone, dogecoin price started a steady increase. DOGE was able to slowly climb higher above the $0.082 and $0.085 resistance levels. There was a clear move above the $0.088 resistance zone to move further into a positive zone. However, the bears were active near the $0.092 and $0.093 resistance levels. The price is now consolidating gains above $0.090, unlike bitcoin and ethereum (correcting lower). Doge price is trading above the $0.088 zone and the 100 simple moving average (4-hours). There is also a crucial bullish trend line forming with support near $0.0868 on the 4-hours chart of the DOGE/USD pair. Recently, there was a minor decline from the $0.0948 high. It traded below the 23.6% Fib retracement level of the upward move from the $0.0844 swing low to $0.0948 high. On the upside, the price is facing resistance near the $0.0925 level. The first major resistance is near the $0.0930 level. Source: DOGEUSD on TradingView.com A clear move above the $0.093 resistance might send the price towards the $0.098 resistance. Any more gains might send the price towards the $0.100 level. A clear move above the $0.100 resistance could open the gates for an increase towards the $0.112 level. Dips Supported in DOGE? If DOGE price fails to gain pace above the $0.093 level, it could start a downside correction. An initial support on the downside is near the $0.090 level. The next major support is near the $0.088 level or the 61.8% Fib retracement level of the upward move from the $0.0844 swing low to $0.0948 high. If there is a downside break below the $0.088 support, the price could decline further. In the stated case, the price might decline towards the $0.086 level and the trend line. Technical Indicators 4-Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.088, $0.0860 and $0.0820. Major Resistance Levels – $0.092, $0.093 and $0.098.
