The long-declining meme coin Dogecoin (DOGE) has managed to get an upside reaction from the support level. For this uptrend to continue, it needs to break the trend resistance. If the breakout does not occur, it can regress to the support level. However, due to the inconsistency on the MACD, an uptrend is required. Although lower lows are recorded in the price, higher lows are seen in the indicator. This means that as a result of the rise, the dissonance will be eliminated. However, the downtrend still looks strong as it is located below the midline.
The RSI is around 58. Based on this information, it can be deduced that it can support both bullish and bearish scenarios. The downtrend looks strong as it is trading below the MA200 on the daily chart. In order to reverse this trend, it needs to surpass this level.
Dogecoin (DOGE), which has received an upside reaction from the very critical $0.11, is aiming to reach the first resistance level of $0.16. In order to reach this level, the positive atmosphere in the market must continue. If it is confirmed as support after the breakout of this level, there is room to rise as high as $0.22. If the bulls continue to gain strength, it could reach $0.28 this time. Afterwards, there are resistances at $0.35 and $0.47.
In order to reach its all-time high, it needs to gain approximately 454 percent from the current level. If there is a decline, it can fall to $0.05 this time.
Dogecoin was priced at $0.132365 at the time of writing, according to Coingecko data. The last 24-hour trading volume was $690,691,481. DOGE price is down -2.6% in the last 24 hours. There is a supply of 130 Billion DOGE coins in circulation. BKEX is currently the most active market where DOGE is traded.