Dogecoin (DOGE), which increased its value to over 100% in the last few days, has managed to draw its eyes again. The entity that has caught a serious rise behind Elon Musk's DOGE shares in the past months has received the support of Snoop Dogg and many celebrities in the following process. In the new developments, names such as Mark Cuban and Guy Fieri also announced their DOGE investments. In addition, it is said that COINBASE developments have a share in the increase in some sources.
These increases were forced to retreat after the peak level as expected. The price retraced to $ 0.108 after hitting a record level of $ 0.145. It is currently testing the $ 0.189 support and its success in this test could bring another rally.
Techniques Are Positive, Verification Should Come
Technical indicators show Stochastic RSI data, which is seeing sales pressure. The MACD is in a bearish trend for now in the signal line conflict. However, its positive place can play an active role in the upcoming processes. His dominance on the daily chart still supports the trend, which should be added. Located at neutral levels, the RSI has turned horizontal in the last few candlesticks.
On the other hand, the fact that it is above the 50-SMA moving average (white) continues to support the presence a little higher.
DOGE resisted for a while at $ 0.145, but could not break this level. The asset withdrawal may hit a new bounce target following the upcoming closures. Especially the eager attitude of the bulls had an effect on the upward trend of the price. We can also say that this effect is waiting for the bulls to take their next leap forward. Although some decrease in volume and demand poses a risk, the decrease has been stopped and supported for now. This can bring movement to the next extension levels.
Result
First of all, this bullish will want to move towards $ 1.29. A short period of resistance will take the ATH level of $ 0.145 back to the test if it breaks. Among its further targets, the extension level will be enough to accumulate demand to push the asset up to $ 0.2. It will be necessary to wait for the 1.29 resistance to be exceeded for this movement.
If verification fails and witnesses retracements, support levels for the asset will be sought at $ 0.109 and, if it deepens, at $ 0.089. This decrease thus means over 20% loss.
