DOGE Price Prediction – Dogecoin Recovery Could Stall At $0.170
April 22 2024 - 1:28AM
NEWSBTC
Dogecoin is attempting a recovery wave above the $0.150 resistance
zone against the US Dollar. DOGE could struggle to clear the $0.170
resistance zone. DOGE started a recovery wave from the $0.1280
support zone against the US dollar. The price is trading above the
$0.1500 level and the 100 simple moving average (4 hours). There is
a key bearish trend line forming with resistance at $0.170 on the
4-hour chart of the DOGE/USD pair (data source from Kraken). The
price must settle above $0.170 to move into a positive zone and
start a fresh surge. Dogecoin Price Faces Hurdles After a major
decline, Dogecoin price found support at $0.1280. A low was formed
at $0.1283 and DOGE started a decent recovery wave, like Bitcoin
and Ethereum. There was a move above the $0.1350 and $0.140
resistance levels. The price climbed above the 23.6% Fib
retracement level of the downward wave from the $0.2093 swing high
to the $0.1283 low. However, the bears are still active and
protecting more gains. There is also a key bearish trend line
forming with resistance at $0.170 on the 4-hour chart of the
DOGE/USD pair. Dogecoin is also below the $0.1650 level and the 100
simple moving average (4 hours). On the upside, the price is facing
resistance near the $0.1690 level or the 50% Fib retracement level
of the downward wave from the $0.2093 swing high to the $0.1283
low. Source: DOGEUSD on TradingView.com The next major resistance
is near the $0.170 level. A close above the $0.170 resistance might
send the price toward the $0.1880 resistance. The next major
resistance is near $0.200. Any more gains might send the price
toward the $0.220 level. Another Decline in DOGE? If DOGE’s price
fails to gain pace above the $0.170 level, it could start another
decline. Initial support on the downside is near the $0.1525 level.
The next major support is near the $0.1475 level. If there is a
downside break below the $0.1750 support, the price could decline
further. In the stated case, the price might decline toward the
$0.1280 level. Technical Indicators 4 Hours MACD – The MACD for
DOGE/USD is now gaining momentum in the bullish zone. 4 Hours RSI
(Relative Strength Index) – The RSI for DOGE/USD is now above the
50 level. Major Support Levels – $0.1525, $0.1475 and $0.1280.
Major Resistance Levels – $0.1690, $0.1700, and $0.200.
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