Dogecoin's exchange rate against the US dollar rebounded after hitting the $0.140 mark, but is currently encountering resistance near $0.1450, facing further upward pressure.
Previously, DOGE gradually recovered from the $0.1350 level, moving in line with Bitcoin and Ethereum, and successively broke through the $0.1380 and $0.140 resistance levels. The price has also moved above $0.1410 and the 100-hour simple moving average. From a technical chart perspective, an upward trend line with support at $0.1405 has formed on the hourly chart of DOGE/USD.
If the price can continue to rebound, it will first challenge the $0.1450 resistance in the short term, a level that also corresponds to the 50% Fibonacci retracement level of the decline from the $0.1532 high to the $0.1351 low. Stronger resistance is located near $0.1490. A break above this could lead to a further test of $0.1530. A sustained close above this level could pave the way for moves toward the $0.1620 and $0.170 areas, with a key mid-term resistance level to watch at $0.1720.
Conversely, if it fails to break through $0.1450 effectively, DOGE could fall again. Initial support is located at $0.1400 and near the trend line, followed by $0.1380. The crucial support level remains at $0.1350. A break below this could lead to a further decline toward $0.1265 or even near $0.1250.
Technical indicators:
The hourly MACD is in the bullish zone, but its momentum is showing signs of weakening; the hourly RSI is currently below the 50 level, reflecting weak short-term momentum.
Key Support: $0.1400, $0.1350
Key Resistance: $0.1450, $0.1530
