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08/01/26
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Dogecoin Faces Consolidation After Surge Past $0.1520
Dogecoin has recently experienced a significant upward movement, surpassing the resistance level of $0.1520 against the US dollar. Following this rally, the cryptocurrency is now consolidating, with potential for a downside correction should it fall below key support levels.
In the latest trading sessions, DOGE managed to break above $0.1480 and $0.1520, indicating increased bullish momentum. Despite this advance, the price remains below the $0.150 mark and the 100-hour simple moving average, suggesting a period of stabilization. The formation of a contracting triangle with resistance around $0.150 on the hourly chart further indicates indecision among traders.
The recent rally pushed Dogecoin’s price to a peak of approximately $0.1541 before a correction set in. The retracement occurred after a decline below the 23.6% Fibonacci retracement level of the upward movement from $0.1155 to $0.1541. Currently, DOGE is trading below the $0.150 level and the 100-hour moving average, which may influence the direction of upcoming moves.
Initial resistance on the upside is identified near $0.1480, with more substantial barriers at $0.150 and $0.1540. Surpassing the latter could propel the price toward $0.1625, with potential targets extending to $0.1680 and ultimately $0.1720 if bullish momentum persists.
Conversely, failure to maintain support above $0.1450 could trigger a corrective decline. Shortly below this level, the next support zones are around $0.140 and $0.136, with the main support at $0.1360, aligning with the 50% Fibonacci retracement of the recent upward move. A breach below this support could see DOGE sliding towards $0.130 or even $0.128 in the near term.
Technical indicators reflect these cautious signals: the MACD is losing bullish momentum, and the RSI has fallen below the midpoint level of 50, suggesting diminishing upward strength. Overall, Dogecoin’s short-term outlook remains uncertain, with key levels to watch for signs of continued rally or renewed downside pressure.
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