DOGE Coin Price Prediction – Bulls Confront a Steep Climb Toward 0.064 Dollars

Crypto News– After a substantial decline, Dogecoin’s price discovered a supportive zone around $0.0595. DOGE briefly touched a low of $0.0591 before embarking on a recovery phase. The price managed to climb above $0.0600 and establish itself above $0.0612.

DOGE Coin Price Prediction – Bulls Confront a Steep Climb Toward 0.064 Dollars

In recent times, Bitcoin experienced a gradual uptick, surpassing $27,000, which had a positive impact on the altcoin market, including Dogecoin. DOGE has exhibited some encouraging signs and successfully cleared the $0.062 resistance level. It also surged above the 23.6% Fibonacci retracement level, calculated from the downward swing stretching from the $0.0685 high to the $0.0591 low.

Currently, DOGE is trading above the $0.062 mark, with the support of the 100-period simple moving average on the 4-hour chart. However, the price faces a notable resistance hurdle at approximately $0.0638. This level closely aligns with the 50% Fibonacci retracement level, calculated from the aforementioned downward swing.

The primary resistance zone lies around $0.0640, and an interesting development is the formation of a crucial ascending channel, with resistance emerging at roughly $0.0640, visible on the 4-hour DOGE/USD chart. If DOGE can convincingly breach the $0.0620 resistance, it may pave the way for a potential rally toward the $0.0670 resistance. Beyond that, the next substantial resistance awaits at $0.0685. Any further upward momentum could drive the price toward the $0.072 level.