Dogecoin / Dollar may rise to 0.1688 - 0.1718

0.1580 is our pivot point.

Our preference

The upside prevails as long as 0.1580 is support.

Alternative scenario

The downside breakout of 0.1580 would call for 0.1529 and 0.1499.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.1595 and 0.1596).

Supports and resistances

0.1779 **

0.1749 *

0.1718 **

0.1688

0.1627 last

0.1600

0.1580 **

0.1529 *

0.1499 **

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