After a dip, Dogecoin (DOGE) has found support around $0.0985 and is starting to climb back up. Similar to Bitcoin and Ethereum, DOGE is showing signs of recovery. The price recently pushed past key resistance levels at $0.1020 and $0.1040, giving hope for more upward momentum.

Notably, the price broke through a bearish trend line at $0.1030 on the hourly chart, indicating a shift. DOGE also regained over 50% of its previous drop from $0.1084 to $0.0985, which is a positive sign.

Right now, DOGE is trading above $0.1040 and staying above the 100-hour simple moving average (SMA). The next level to watch is $0.1050, aligning with the 61.8% Fib retracement of the recent downward move.

Key Takeaways:

1. DOGE Near Key Resistance at $0.1060: Dogecoin is testing a critical resistance level at $0.1060. Breaking through could trigger a larger rally toward $0.1150 or higher.
2. Support Holds at $0.0985: The $0.0985 level has provided strong support for DOGE. If it holds, Dogecoin could maintain its upward momentum.
3. Bullish Signals from Technical Indicators: Both the MACD and RSI are showing bullish signs, indicating potential for more gains in the near term.

Register now! Secure your spot to enjoy up to 100% cashback! Invite new users to reserve and share a $10,000 USDT prize pool!

Click here for more details.

Key Resistance Levels for DOGE

The next big test for Dogecoin is the $0.1060 mark. If DOGE can close above this level, it could kick off a bigger rally. Breaking this resistance could see the price push toward $0.1085, and if the momentum continues, we might see a move toward $0.1150 or even $0.1200 soon.

Why $0.1060 Matters

The $0.1060 resistance is important because it lines up with a key Fibonacci level and is also a psychological barrier. If DOGE breaks through, it could signal a strong bullish trend. Traders will be keeping a close eye on whether DOGE can close above this point, which could open the door to even bigger gains.

Will Dogecoin Face Another Pullback?

If DOGE can't break through $0.1060, it could see another pullback. The first support level is at $0.1030, followed by a stronger support at $0.1020. If these levels don’t hold, the price could retest $0.0985, which has been a key support in recent days.

Attention all $DOGS holders! New Launchpool is live on Bitrue. Stake $DOGS to share 50,000 $HMSTR prize pool!

How can I participate in Launchpool to earn tokens?

After completing the KYC verification, as long as your spot account has designated tokens and the balance reaches the minimum staking limited amount, you can participate, and you can redeem it at any time;

Click here for more details

Risks of Falling Below $0.0985

If DOGE falls below $0.0985, it could spark a more significant drop. In that case, we might see the price move down to $0.0920 or even $0.0885, depending on market conditions.

Technical Signals Point to a Bullish Move

Looking at technical indicators, the MACD is gaining strength in the bullish zone, showing upward momentum. The Relative Strength Index (RSI) is also sitting above 50, signaling strong buying interest.

• MACD: Strengthening in the bullish zone.
• RSI: Staying above 50, suggesting buying pressure.

Read More: Why Dogecoin and Shiba Inu Are Stuck Sideways: A Deep Dive with Expert Opinions

Trade & Invite your friends to earn up to 20 $USDT worth of $HMSTR

1. New users on Bitrue will receive HMSTR tokens worth 10 USDT for their first trade of any spot pair. 
2. All users who invite three new users to register on Bitrue and complete any spot trade will receive HMSTR tokens worth 10 USDT.

Click here for more details 

Key Levels to Watch for DOGE

Here’s a quick recap of the important levels for Dogecoin right now:

• Support: $0.1030, $0.1020, and $0.0985.
• Resistance: $0.1060, $0.1085, and $0.1150.

FAQ

Q1: What’s the next key resistance for Dogecoin?

A1: The next major resistance is at $0.1060. If DOGE can break through this level, it could rally toward $0.1150 or higher.

Q2: What happens if DOGE falls below $0.0985?

A2: If Dogecoin drops below $0.0985, it could see a significant decline, with the next target being $0.0920 or even $0.0885.

Q3: Are there any bullish signs for Dogecoin right now?

A3: Yes, the MACD is gaining momentum in the bullish zone, and the RSI is above 50, indicating buying interest and upward pressure.

Conclusion

Dogecoin is showing strong signs of recovery after bouncing from the $0.0985 support level, and all eyes are on the key $0.1060 resistance. A breakout above this level could ignite a larger rally, possibly driving the price toward $0.1150 or even $0.1200. However, if DOGE fails to clear this resistance, a pullback might be on the horizon, bringing the $0.0985 support back into play. 

With bullish indicators like the MACD and RSI showing strength, Dogecoin is in a crucial phase, and traders should be prepared for any move. Don't miss out on this opportunity! If you're ready to ride the wave, consider buying DOGE on Bitrue to capitalize on the potential upside.

Bitrue Official Website:

Website: https://www.bitrue.com/

Sign Up: https://www.bitrue.com/user/register

Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.