Dogecoin (DOGE) Technical Analysis: critical levels for record DOGE price

The DOGE is back in full force after the drastic fall he suffered.

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Elon Musk's favorite cryptocurrency, Dogecoin (DOGE),signals a recovery after its sharp rise and subsequent decline. The DOGE, who has had a chance to rise to public attention in the past 24 hours, is eating the fruit of Reddit and Twitter.

Doge's Second Wave Of Ascension Begins

Doge, which initially rose with the influence of the WallStreetBets group, which raised GameStop shares, lost most of its value after a record 1,000%. Now, a gathering of private groups and investors for the DOGE on Twitter and Reddit has kept the price rising.

Although the DOGE has risen 50% in the last 24 hours, it is still far from the peak of $ 0.088 a few days ago. For DOGE, which was trading at $ 0.044 at the time of writing this article, the technical analysis looks like a tough fight. Levels of 50 SMA, 100 SMA and 200 SMA can all increase the difficulty for the DOGE and slow the rise.

DOGE / USD Technical Analysis

Although the bullish trend is confirmed when looking at the 4-hour DOGE/USD chart, resistance levels are noticeable. While the MACD indicator signals a decline, the RSI indicates that there is still a chance of a rise. In order for the DOGE price to come back to the old point, it must go above $ 0.060 and close here.

According to intotheblock data, close to 41,000 Doge addresses have been created in the last 1 Week, and the number of investors adding DOGE to their wallet is growing. One of the most critical points for the price is $ 0.042. It can be seen that loaded sales orders are entered here, and the DOGE price closing above this level can also provide a long-term hold.

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