Dogecoin Market Evaluation and Future

Dogecoin (DOGE) has risen against the dollar while maintaining support levels. DOGE’s rise followed the general recovery trend in the cryptocurrency markets, which began with Bitcoin and Ethereum. Currently, DOGE is trading at 0.1650 dollars and below the 100 simple moving average, which poses an obstacle for short-term growth. Important Resistance and Support Levels for DOGE Prices above 0.160 dollars, an important breaking point for DOGE, may indicate the continuation of the upward trend. Moreover, the opening of the 0.1650 dollar resistance could allow DOGE to move towards its 0.1850 dollar target. However, if DOGE breaks the 0.200 dollar resistance, it could target the 0.220 dollar levels. Risk of Downtrend in DOGE If DOGE cannot gain steady momentum above the 0.160 dollar level, it could enter a downtrend. Its first support at this point will be around 0.1450 dollars. In case of a deeper decline, the 0.130 dollar level will […]

Dogecoin Market Evaluation and Future

Dogecoin (DOGE) has risen against the dollar while maintaining support levels. DOGE’s rise followed the general recovery trend in the cryptocurrency markets, which began with Bitcoin and Ethereum. Currently, DOGE is trading at 0.1650 dollars and below the 100 simple moving average, which poses an obstacle for short-term growth.

Important Resistance and Support Levels for DOGE

Prices above 0.160 dollars, an important breaking point for DOGE, may indicate the continuation of the upward trend. Moreover, the opening of the 0.1650 dollar resistance could allow DOGE to move towards its 0.1850 dollar target. However, if DOGE breaks the 0.200 dollar resistance, it could target the 0.220 dollar levels.

Risk of Downtrend in DOGE

If DOGE cannot gain steady momentum above the 0.160 dollar level, it could enter a downtrend. Its first support at this point will be around 0.1450 dollars. In case of a deeper decline, the 0.130 dollar level will be a significant support point, and further declines may be possible below this level.

Technical indicators are giving bullish signals in the DOGE/USD pair. Especially, the 4-hour MACD and RSI indicators show optimism. The support levels to be followed by investors are determined as 0.1450, 0.130, and 0.1150 dollars, while the resistance levels are set as 0.1580, 0.160, and 0.1650 dollars.

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how to buy crypto?
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