- The nearest resistance zone in Dogecoin’s short-term technical chart is at the level of $0.0776. If the price closes above this level on an hourly basis, it can continue its upward movement towards the $0.0797 levels.
- However, if the DOGE price closes below the $0.0776 level, it can extend its downward movement towards the $0.0754 and $0.0742 levels.
- Dogecoin investors should carefully monitor the $0.0776 resistance level and observe how the price reacts above or below this level.
According to the technical analysis of Dogecoin, the level of $0.0776 appears as an important resistance zone in the short term. The movements that the price shows above or below this level can be effective in determining the trend in the near term.
Medium-Term DOGE Price Analysis
Daily DOGE/USD Price ChartDogecoin’s daily technical price chart is currently continuing with price movements at the level of $0.0772. If the DOGE price achieves daily candle closes above the mentioned resistance of $0.0835 in the analysis, it can continue its upward movement towards the $0.0951 levels.
However, if the Dogecoin price fails to surpass and sustain above the $0.0835 resistance, it can perform a downward movement towards the significant support zone ranging from $0.0719 – $0.0694. If DOGE encounters strong buying reactions from this support range, it can initiate the upward trend starting from this zone and progress towards the $0.095 levels.
In order for Dogecoin’s upward movement to continue, it is important for it to encounter strong buying reactions from the $0.0719 – $0.0694 support range and not achieve daily candle closes below the $0.069 level. If the DOGE price achieves daily candle closes below $0.069, it can extend its downward movement towards the $0.0656 levels.
After the $0.0719 – $0.0694 support range, another significant support range for Dogecoin is located between $0.0656 – $0.06356. Therefore, it will be helpful for Dogecoin investors to carefully monitor the mentioned support and resistance zones in the analysis to determine the direction of the trend.
Short-Term Dogecoin Price Analysis
When examining Dogecoin’s short-term technical chart, it is observed that the nearest resistance zone is at the level of $0.0776. If the DOGE price achieves hourly candle closes above the $0.0776 level, it can continue its upward movement towards the resistance zone indicated by the blue line in the analysis, which is the $0.0797 levels.
However, if the Dogecoin price fails to achieve hourly candle closes above the $0.0776 level, it can expand its downward movement first towards the $0.0754 level, and then towards the $0.0742 levels.
Therefore, Dogecoin investors need to carefully monitor the $0.0776 resistance level in the short term. While there is a strong potential for an upward movement above this level, closures below it can indicate a continuation of the downward movement.
