Dogecoin (DOGE) Bets on $0.150: Will the Rally Take Off?

Dogecoin is rising above the $0.1350 resistance zone against the US dollar. DOGE is currently showing positive signs and may overcome the resistance at $0.1450.

DOGE price has started a recent rally above the $0.1320 resistance level.
The price is above the $0.1350 level and the 100-hour basic moving average.
A key bullish trendline is forming on the hourly chart of DOGE/USD with support at $0.1420 (data source from Kraken).
The price may gain bullish momentum if it breaks the $0.1450 and $0.1465 resistance levels.

Dogecoin price has more advantages

Dogecoin price has started a recent rally above the $0.1200 resistance zone. DOGE gained traction with a move above the $0.1320 resistance zone, outperforming Bitcoin and Ethereum. There was also a move above the $0.1350 and $0.1400 resistance levels.

The price reached the level of USD 0.1467 and has recently undergone a slight downward correction. The price fell below the level of USD 0.1420. The stock was trading below the 23.6% Fib retracement level resulting from the upward move from a low of $0.1206 to a high of $0.1467.

However, bulls are dynamic above the $0.1350 level. A key uptrend line is also forming on the hourly chart of DOGE/USD with support at $0.1420. Dogecoin price is currently trading above the $0.1320 level and the 100-hour basic moving average. Immediate upside resistance is located near the $0.1465 level. The next major resistance is near the $0.1480 level.

A close above the $0.1480 resistance could push the price towards the $0.1520 resistance. Any further gains could push the price towards the $0.1550 level. The next major stop for bulls could be $0.1585.

Are dips supported in DOGE?

If the DOGE price does not rise above the $0.1465 level, another decline could begin. Initial downside support is near the $0.1420 level. The next essential support is near the USD 0.1400 level.

Major support is located at $0.1335 or the 50% Fib retracement level moving up from a low of $0.1206 to a high of $0.1467. If there is a break below the support at $0.1335, the price may decline further. In the given case, the price may drop towards the level of USD 0.1250 or even USD 0.1220 in the tiny term.

Technical indicators

Hourly MACD – The MACD for DOGE/USD is currently gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is currently above the 50 level.

Major support levels – USD 0.1465 and USD 0.1500.

Major resistance levels – $0.1420 and $0.1335.