Dogecoin (DOGE) Turns Higher – Is This The Beginning Of A Stronger Recovery?

Dogecoin started a fresh increase above the $0.250 zone against the US ￰0￱ is now consolidating and might aim for more gains above $0.270. DOGE price started a fresh upward move above $0.250 and $0.2550. The price is trading above the $0.2550 level and the 100-hourly simple moving ￰1￱ is a bullish trend line forming with support at $0.2580 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could aim for more gains if it remains stable above $0.2550.

Dogecoin Price Turns Green Dogecoin price started a fresh increase after it settled above $0.2350, like Bitcoin and ￰2￱ climbed above the $0.250 resistance to enter a positive ￰3￱ bulls were able to push the price above $0.260 and $0.2620. A high was formed at $0.2701 and the price is now consolidating gains near the 23.6% Fib retracement level of the recent wave from the $0.2507 swing low to the $0.2701 ￰4￱ price is now trading above the $0.260 level and the 100-hourly simple moving average. Besides, there is a bullish trend line forming with support at $0.2580 on the hourly chart of the DOGE/USD ￰5￱ there is another increase, immediate resistance on the upside is near the $0.270 ￰6￱ first major resistance for the bulls could be near the $0.2720 ￰7￱ next major resistance is near the $0.280 level.

A close above the $0.280 resistance might send the price toward $0.2880. Any more gains might send the price toward $0.2920. The next major stop for the bulls might be $0.30. Pullback In DOGE?

If DOGE’s price fails to climb above the $0.270 level, it could start a downside ￰8￱ support on the downside is near the $0.2650 ￰9￱ next major support is near the $0.2580 level and the trend ￰10￱ main support sits at $0.250. If there is a downside break below the $0.250 support, the price could decline ￰11￱ the stated case, the price might slide toward the $0.2320 level or even $0.2250 in the near ￰12￱ Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish ￰13￱ RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 ￰14￱ Support Levels – $0.2580 and $0.2550. Major Resistance Levels – $0.2700 and $0.2720.