The DOGE/USD exchange rate rebounded after reaching the $0.140 level, and the current price is encountering resistance around $0.1450, facing pressure for further upward movement.
Previously, DOGE gradually rebounded from the level of $0.1350, with its trend aligning with Bitcoin and Ethereum, and it subsequently broke through the resistance levels of $0.1380 and $0.140. The price has also risen above $0.1410 and the 100-hour simple moving average. From a technical chart perspective, an ascending trend line has formed on the hourly chart of DOGE/USD, with support at $0.1405.
If the price can continue to rebound, it will first challenge the $0.1450 resistance in the short term, which also corresponds to the 50% Fibonacci retracement level of the drop from the high of $0.1532 to the low of $0.1351. A stronger resistance is near $0.1490, and a breakthrough here may lead to further upward testing of $0.1530. If it can sustain above this level, the next targets may be in the $0.1620 and $0.170 areas, with a key mid-term resistance to watch at $0.1720.
Conversely, if it cannot effectively break through $0.1450, DOGE may fall back again. Initial support is at $0.1400 and near the trend line, followed by $0.1380. Important support is still at $0.1350, and if it breaks below, the price may further drop to around $0.1265 or even $0.1250.
In terms of technical indicators:
The hourly MACD is in the upward zone, but the momentum shows signs of weakening; the hourly RSI is currently below the 50 level, reflecting weak short-term momentum.
Key support: $0.1400, $0.1350
Key resistance: $0.1450, $0.1530
