• Dogecoin is trading above the $0.088 resistance against the US Dollar.
• A crucial bullish trend line is forming with support near $0.0868 on the 4-hours chart of the DOGE/USD pair.
• The pair could rise further if there is a clear close above the $0.093 resistance.
Dogecoin is gaining momentum against the US Dollar, with the price consolidating above the $0.088 resistance and the 100 simple moving average (4-hours). There is a crucial bullish trend line forming with support near $0.0868 on the 4-hours chart of the DOGE/USD pair, indicating that the bulls are in control of the market and the price could rise further.
The recent uptrend in Dogecoin started after forming a base above the $0.080 zone. DOGE was able to slowly climb higher above the $0.082 and $0.085 resistance levels. There was a clear move above the $0.088 resistance zone to move further into a positive zone. However, the bears were active near the $0.092 and $0.093 resistance levels, which prevented further gains.
The price is now consolidating gains above $0.090. On the upside, the first major resistance is near the $0.0930 level. If the bulls can gain strength above the $0.093 resistance, the price could start a sustained upward move. The next key resistance is near the $0.095 level. Any further gains might push the price towards the $0.100 and $0.102 levels.
On the downside, the $0.088 level is currently acting as a strong support. If there is a downside break below $0.088, the price could retest the $0.085 support. The main support is near the $0.082 level, below which the price could test the 100 simple moving average (4-hours).
Overall, Dogecoin is in a positive zone above the $0.088 support. If the bulls can gain strength above the $0.093 resistance, there are chances of a strong upward move towards the $0.100 and $0.102 levels.
