Dogecoin (DOGE) Surges 50%, Here’s Why The Bulls Are Not Done Yet

Dogecoin (DOGE) Surges 50%, Here’s Why The Bulls Are Not Done Yet

Doge Dogecoin dogeusd dogeusdt Technical analysis
May 5, 2021 by admin
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Dogecoin remained sturdy and it rallied additional above $0.5000 towards the US Greenback. DOGE surged over 50% and it traded to a brand new all-time excessive above $0.6500. DOGE prolonged its rally and it cleared the $0.5000 and $0.5500 resistance ranges towards the US greenback. The worth is buying and selling nicely above the $0.5000
Dogecoin (DOGE)

Dogecoin remained sturdy and it rallied additional above $0.5000 towards the US Greenback. DOGE surged over 50% and it traded to a brand new all-time excessive above $0.6500.

  • DOGE prolonged its rally and it cleared the $0.5000 and $0.5500 resistance ranges towards the US greenback.
  • The worth is buying and selling nicely above the $0.5000 zone and the 100 easy transferring common (4-hours).
  • There’s a key bullish pattern line forming with assist close to $0.4800 on the 4-hours chart of the DOGE/USD pair (knowledge supply from Bitfinex).
  • The pair is prone to proceed greater above the $0.6800 and $0.7000 ranges within the close to time period.

Dogecoin Rallies To New ATH

Yesterday, we mentioned the possibilities of extra good points in dogecoin above the $0.5000 resistance zone. DOGE did acquire tempo above the $0.5000 resistance, outpacing bitcoin and ethereum.

It surged over 50% and it even cleared the $0.6500 stage. A brand new all-time excessive is fashioned close to the $0.6793, with a bullish angle. It’s now buying and selling nicely above the $0.5000 zone and the 100 easy transferring common (4-hours).

An preliminary assist is close to the $0.6200 stage. The primary key assist is close to the $0.6050 stage. It’s near the 23.6% Fib retracement stage of the latest surge from the $0.3618 swing low to $0.6793 excessive. If there’s a draw back break beneath the $0.6000 assist, the value may right additional.

Dogecoin (DOGE)

Supply: DOGEUSD on TradingView.com

The primary assist is forming close to the $0.5200 and $0.5000 ranges. The 50% Fib retracement stage of the latest surge from the $0.3618 swing low to $0.6793 excessive can also be close to $0.5200. Furthermore, there’s a key bullish pattern line forming with assist close to $0.4800 on the 4-hours chart of the DOGE/USD pair. Any extra losses may open the doorways for a transfer in the direction of the $0.4000 stage.

Extra Features in DOGE?

If DOGE worth stays secure above the $0.6000 assist, there are possibilities of extra good points. An preliminary resistance on the upside is close to the $0.6750 stage.

The primary main resistance is close to the $0.7000 stage. Any extra good points above the $0.7000 zone may encourage the bulls to purpose a check the necessary $1 stage.

Technical Indicators

4-Hours MACD – The MACD for DOGE/USD is now gaining momentum within the bullish zone.

4-Hours RSI (Relative Energy Index) – The RSI for DOGE/USD is now within the overbought zone.

Main Assist Ranges – $0.6500, $0.6050 and $0.6000.

Main Resistance Ranges – $0.6750, $0.7000 and $0.8000.

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