Dogecoin is showing bullish signs trading above $0.160 and the 100-hourly SMA, with resistance levels at $0.1680, $0.1750, and $0.397, potentially leading to a breakout above $0.40.
The DOGE/USDT pair has significant trading volume and a neutral-to-bullish RSI at 52.28, indicating a market sentiment favoring the bulls.
Dogecoin has surged past key resistance levels and is consolidating above support zones around $0.1420. Technical indicators suggest buyers are defending gains, with potential upward movements towards $0.40.
The formation of a rising channel pattern on the DOGE/USD hourly chart indicates potential resistance at $0.1680, with a breakout possibility towards $0.1750, $0.180, and $0.200 levels. Failure to sustain bullish momentum could lead to support tests at $0.1620 and $0.1550.