đĽDogecoin ($DOGE ) has recently experienced a slight pullback, breaking below the support level of $0.1120 against the US dollar.
Despite this dip, đŽ DOGE bulls remain tenacious, holding the line around $0.1080 and aiming to propel the cryptocurrency back above the $0.1120 mark.
đ°Presently, Dogecoin is trading above $0.1080 and has maintained its position above the 100-hour Simple Moving Average (SMA), signaling potential for further upside.
On the hourly chart, $DOGE /USD witnessed a break below a previously established positive trend line, with support near $0.1090.
Following this, the price managed to rebound from the 50% Fibonacci retracement level of the recent surge from a low of $0.1037 to a high of $0.1111, highlighting the resilience of the bulls near the $0.1075 zone.
If Dogecoin can successfully breach the resistance levels at $0.1095 and $0.1120đ¸đď¸, it could potentially escalate to $0.1132, with further gains possibly pushing it toward the $0.1150 mark. The critical resistance to watch would be $0.1200, where the bullish momentum could face a significant test.
Conversely, should $DOGE
fail to surpass the immediate resistance at $0.1095, the price might retract to the lower support level of $0.1080.
Additional support is found at $0.1065đ°, followed by a crucial juncture at $0.1050. A breach below this level could trigger a sharper decline, potentially dragging the price down to $0.1000 or even as low as $0.0950.
Thus, key đ support levels to monitor include $0.1065 and $0.1050, while $0.1095 and $0.1120 serve as significant barriers that bulls need to overcome to maintain upward momentum.
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