THELOGICALINDIAN - Dogecoin rallied this anniversary from the 00022 abutment breadth and acquired over 100 adjoin the US Dollar DOGE is currently adverse a able attrition abreast 00500 on the account chart
Dogecoin Rally Facing Hurdles Near $0.005
In the accomplished few days, there was a able abutment abject formed by dogecoin aloft $0.0020 adjoin the US Dollar. DOGE bankrupt a brace of important hurdles abreast the $0.00250 akin to alpha a able rally.
There was a breach aloft a abutting bearish trend band with attrition abreast $0.0025 on the account blueprint of the DOGE/USDT pair. It opened the doors for a aciculate access and the brace rallied added than 100%.
It bankrupt the $0.0040 attrition and acclimatized able-bodied aloft the 100-week simple affective average. It alike acicular aloft the $0.00450 and $0.0050 attrition akin (outpaced added above cryptocurrencies, including bitcoin and Ethereum).
A new account aerial is formed abreast $0.0055 and the amount is currently accent gains. It seems like the beasts are adverse a able attrition abreast the $0.0050 account hurdle. It adapted beneath the 23.6% Fib retracement akin of the contempo assemblage from the $0.0011 beat low to $0.0055 high.
If there is a account abutting aloft the $0.0050 attrition level, there are affairs of a abiding advancement move. The abutting above attrition is apparent abreast the $0.0055 and $0.0058 levels, followed by $0.0062.
Dips Supported in DOGE
If DOGE amount corrects lower, it is acceptable to abide accurate abreast the $0.0040 level. The abutting above abutment is abreast the $0.0034 akin (the contempo blemish zone) or the 50% Fib retracement akin of the contempo assemblage from the $0.0011 beat low to $0.0055 high.
Any added losses may conceivably put burden on the beasts and the amount could retreat appear the $0.0025 akin in the advancing days.
Technical Indicators
Weekly MACD – The MACD for DOGE/USDT is accepting drive in the bullish zone.
Weekly RSI (Relative Strength Index) – The RSI for DOGE/USDT is ascent and it is abutting the 85 level.
Major Support Levels – $0.0040, $0.0034 and $0.0025.
Major Resistance Levels – $0.0045, $0.0050 and $0.0055.
Take advantage of the trading opportunities with Plus500
Risk disclaimer: 76.4% of retail CFD accounts lose money.
