Dogecoin (dog) promises a major breakthrough: $0.50 within reach
2024-12-12 11:17

Dogecoin is bout support at $0. 4250 against the dollar. Dogecoin is currently in bullish territory and could soon break through resistance at $0. 50.


DOGE prices began to rise again to above $0. 440.

The price trades above the $0. 4350 level and the 100-hour simple moving average.

A key bullish trend line is formed on the hourly chart of DOGE / USD pairs, with support at 0. 430 and USD (data from K raken).

If prices break above resistance at $0. 4600 and $0. 4640, they could start rising again.


Dogecoin prices recover momentum

Dogecoin prices began to rise again above $0. 4150, just like Bitcoin and Ethereum. Dogecoin is traded above $0. 4250 and $0. 4400 resistance. Prices rose more than 5% to a recent high of $0. 4637.

Prices are now consolidating gains below $0. 450. Prices edged down to $0. 4450 and $0. 4400, and the 23. 6% Fibonacci retreated from a swing low of $0. 3646 to a high of $0. 4637.

Dogecoin is currently trading at $0. 430 and above the 100-hour simple moving average. A key bullish trend line is also formed on the hourly chart of DOGE / USD pairs, with support at $0. 430.

On the upside, direct resistance is around 0. 4550. The first major resistance for bulls could be around $0. 46400. The next major resistance level is around 0. 4720.

A close above $0. 4720 resistance could push the resistance towards $0. 4880. A further rise could push the price to $0. 5,000. The next major stop for the bulls could be $0. 5200.


Downside correction of DOGE?

If DOGE fails to break above the $0. 4500 level, it could fall again. Initial support for the downside is around 0. 4400. The next major support level is around $0. 430 and the trend line.

Major support is at $0. 4150. Breaking below $0. 4150 support could fall further. In this case, the price may fall to $0. [4000 or even $0. 3800 in the short term.


Qualification

The MACD DOGE / USD is currently gaining momentum in the bearish zone.

The RSI per RSI (RSI) —— DOGE / USD is now above 50.

Major support is-$0. 4400 and $0. 4300.

Major resistance-$0. 4500 and $0. 4640.