Dogecoin / Dollar may rise to 0.1772 - 0.1916

Our pivot point stands at 0.1225.

Our preference

The upside prevails as long as 0.1225 is support.

Alternative scenario

The downside breakout of 0.1225 would call for 0.0996 and 0.0859.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.1198 and 0.1115).

Supports and resistances

0.2204 **

0.2060 *

0.1916 **

0.1772

0.1417 last

0.1315

0.1225 **

0.0996 *

0.0859 **

Number of asterisks represents the strength of support and resistance levels.