Positive signals from Dogecoin (DOGE): Will it go up?

Dogecoin (DOGE),It showed a decent recovery and tested the $0.1285 region.

Afterwards, DOGE could not continue its rise and BitcoinAnd Ethereum It started to decline and fell below $0.1285. There was a move below the $0.1250 support level and the 100 hourly easy moving average.

Dogecoin’s technical structure remains positive

The price declined below the 23.6% Fib retracement level following the real rally from the $0.1129 high to $0.1285 low. The bulls are currently active near the $0.1220 zone.

DOGE is currently trading below the $0.1250 level and the 100 hourly easy moving average. Additionally, there is a significant ascending channel structure formed with a support near $0.1220 on the hourly chart of the DOGE/USD parity.

What do the indicators say for DOGE?

DOGE price may continue to decline if it fails to climb above the $0.1285 level. The first support on the downside is near the $0.1220 level. The next major support for the well-known memecoin is near the $0.1185 level. If there is a break below the $0.1185 support, the price could decline further. In the specified case, the price may decline to $0.1120.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is currently gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is currently below the 50 level.

Major Support Levels – $0.1220, $0.1185 and $0.1120.

Major Resistance Levels – $0.1260, $0.1285 and $0.1320.