DOGE price prediction: Can it break the 0.1720 USD resistance level?

DOGE/USD successfully broke through the 0.1650 USD area and has initiated a new round of pump. The current price is in a consolidation phase, and the market is following whether it can further attack and break through the 0.1720 USD resistance level.

Review of Recent DOGE Price Pump

• The price of DOGE found support in the 0.1565 USD range and then followed the footsteps of Bitcoin and Ethereum to initiate a rebound.
• Successfully broke through the two major resistance levels of 0.1600 and 0.1620 USD.
• The bullish strength is strong, further pushing the price above 0.170 USD.
• On the DOGE/USD hourly chart, the key bearish trendline resistance (located at 0.1640 USD) has been effectively broken.
• After the price reached a high of 0.1726 USD, it is currently entering a consolidation phase, slightly retracing below the 23.6% Fibonacci retracement level of the rise from the low of 0.1565 USD to the high of 0.1726 USD.

Current DOGE Price Levels and Key Resistance

• The DOGE price is currently trading above 0.1650 USD and is holding steady above the 100-hour simple moving average.
• The recent upward resistance level is near 0.1710 USD.
• The first important resistance level is at 0.1720 USD, breaking through this level will open up greater upward space.
• The next key resistance level is at 0.1750 USD. If it can close above 0.1750 USD on the daily chart, the price is likely to test the 0.180 USD resistance level.
• Continuous rise may target 0.200 USD, while the long-term goal for bulls may be 0.2120 USD.

Will the price of DOGE pull back again?

• If the DOGE price cannot effectively break through the 0.1720 USD resistance, it may initiate a new round of pullback.
• The initial downward support level is around 0.1650 USD (which is the 50% Fibonacci retracement level of the rise from the low of 0.1565 USD to the high of 0.1726 USD).
• The next important support level is at 0.1620 USD.
• The main support level is at 0.1560 USD. If the support at 0.1560 USD is broken, the price may decline further.
• In this context, the price may temporarily drop to the 0.150 USD area, or even the 0.1450 USD area.

Technical Indicator Signal Interpretation

• Hourly MACD: The MACD indicator for DOGE/USD is currently still in the bullish zone, but upward momentum is weakening.
• Hourly Chart RSI (Relative Strength Index): Currently above the 50 level, indicating that the bulls still have a certain advantage.

Core Support and Resistance Levels Summary

• Main support levels: $0.1650, $0.1620, $0.1560
• Main resistance levels: $0.1720, $0.1750, $0.1800
• (Source: NewsBTC)