Long time no focus on small currencies, except for a few episodes of Dogecoin that I mentioned in the video before. Recently, I have been busy with bringing members and friends, and today I happen to have some time to share my personal opinions as requested by fans.

After the decline, Dogecoin found support near the $0.1220 area. The low point formed at $0.1228, and recently started a good uptrend, just like BTC and ETH. It steadily rose above the resistance levels of $0.1320 and $0.1350.

The price also broke free from the 0.1228% Fibonacci retracement level from the high point of $0.206 to the low point of $0.192, and also broke through the key downtrend line, with resistance near $0.1310 on the 4-hour level.

At the 4-hour level, the price of Dogecoin is still below the $0.160 level and the 100MA, but from a positive perspective, the price faces resistance near $0.158 or the 50% Fibonacci retracement level from the high point of $0.192 to the low point of $0.1225.

So, the next major resistance level is near $0.1650. If the closing price is above the resistance level near $0.1650, then I personally believe that the price may reach the resistance level of $0.1850. The next major resistance level will be near $0.200, and if there is further increase near $0.200 later on, then we can expect the price to reach $0.220.

However, if the price of Dogecoin fails to break through $0.160, I personally think it may initiate another decline. The initial support level for the decline is near $0.1450, and the next major support level will be near $0.130. If the price falls below the $0.130 support level in the future, it may further decline. Especially for friends trading Dogecoin contracts, you need to be cautious, as the price may drop to $0.1150.

Technical indicators in the attached image:

The 4-hour MACD is currently showing some strength in the bullish zone, and the RSI is currently above the level of 50. The main support levels are $0.1450, $0.130, and $0.1150, while the main resistance levels are $0.1580, $0.160, and $0.1650.

In summary, after the rebound from $0.1220, Dogecoin must first break through the resistance level of $0.1650 in order to start rising again to $0.200. The previous decline also tested the support level of $0.1220 against the US dollar exchange rate, and the 4-hour price is below the $0.1650 level and the 100MA moving average.

The 4-hour chart also broke through the key downtrend line, with resistance at $0.1310. So, if the price breaks through the resistance levels of $0.1600 and $0.1650, I still personally remain bullish on Dogecoin.

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Candlestick is king, trend is emperor, I am Master Chen, focusing on BTC, ETH spot contracts for many years, there is no 100% method, only 100% follow the trend; daily updates on macro analysis articles and technical analysis review videos across the web.

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