Dogecoin (DOGE) To Break Past $0.1608 Daily Resistance – Price Analysis
- Dogecoin exhibits a bullish attitude today.
- Most of DOGE’s technical indicators flash bullishness.
- The meme coin currently trades at $0.1569.
Dogecoin (DOGE) started the daily chart in downswings. However, buyers stepped up some hours later, retreating the bearish outlook. Since bears struggled to drag the meme coin lower, bulls strive to push DOGE even higher. The daily chart showed Dogecoin recording higher highs and bounced from the value area of $0.1530.
DOGE 24Hr Analysis – A Probable Higher Bounce
Dogecoin has its price wavering beneath the Ichimoku cloud, a bearish picture that indicates downtrends. The Moving Averages show intensified upside pressure on Dogecoin as their point northward. That can mean bad news for DOGE bears if they fail to overcome the bullish bias soon. The last time the original meme coin showed such narratives, it surged to $0.17000 from $0.1300 within a few weeks. The case might play out again if the bulls maintain the current trend to launch a dependable bullish run.
For now, Dogecoin buyers control the market. Nevertheless, sellers might join the craze once more if the asset drops beneath $0.1520. That will see the meme coin kick-starting downtrends, exploring further dips. Meanwhile, the bullish case can see DOGE rallying towards levels of $0.1620.
DOGE/USD 4Hr Chart – Dogecoin to Rally Higher
The 4-hour chart shows Dogecoin maintaining sideways price movements, creating a symmetrical triangle setup. That is a bullish continuation pattern and has triggered upside moves. Nevertheless, the price pattern is weak as bulls could not push Dogecoin past the resistance at $0.1608.
Buyers remain in control of the meme token market. However, they appear to luck the needed momentum for dependable surges. Meanwhile, DOGE requires a move past the hurdle of $0.1608 to catalyze a lasting uptrend. With that, the MACD can sway to the positive region. Nevertheless, the Dogecoin price will encounter challenges before a breakthrough and may dip into consolidation or slide lows to retest footing.
According to the 1-hr chart, the uptrend appears to gain strength, forming higher lows and higher highs, suggesting demand exceeds supply. However, the RSI flashes weak bullish strength with a brief bearish divergence.
Dogecoin price flashes bullishness, and the meme coin might see continued upside movement. Meanwhile, the dog coin has to rally past the obstacle at $0.1608 to jump into a bullish run. With that, DOGE can rise towards $0.1700.