Dogecoin is on the rise, approaching the $0.4484 resistance level. This steady climb shows buyers are in charge, pushing DOGE towards new highs. Will this continue, or is it just a temporary surge?
Strong Bullish Signals
The 4-hour chart shows DOGE trading above its 100-day Simple Moving Average (SMA). This is a good sign, suggesting strong momentum and positive market sentiment. The Composite Trend Oscillator on the 4-hour chart is also heading towards “overbought” territory, meaning lots of buying pressure. This is usually a sign of a strong asset.
The daily chart paints a similar picture. A bullish candlestick pattern and a position above the SMA reinforce the upward trend. Even the daily Composite Trend Oscillator shows overbought conditions, but the overall trend remains bullish.
Key Levels to Watch
The $0.4484 level is a major hurdle. Breaking through it could send DOGE soaring towards $0.5920, then potentially even higher to $0.7444.
However, if DOGE fails to break through $0.4484, it might pull back to around $0.3563. Falling below that could signal further price drops. Traders need to keep a close eye on these levels to see if the buyers can keep the momentum going or if sellers will take over.
