Charted: Dogecoin (DOGE) Beats Bitcoin, Why It Could Test $0.5

Charted: Dogecoin (DOGE) Beats Bitcoin, Why It Could Test $0.5

Dogecoin extended its rally above the $0.4000 resistance against the US Dollar. DOGE tested the $0.4500 zone and it is likely to continue higher in the near term.

DOGE gained bullish momentum above the $0.3500 and $0.4000 resistance levels against the US dollar. The price is trading nicely above the $0.3000 support and the 100 simple moving average (4-hours). There is a crucial bullish trend line forming with support near $0.3600 on the 4-hours chart of the DOGE/USD pair (data source from Bitfinex). The pair is correcting gains, but dips are likely to remain limited below $0.3500. Dogecoin Rallies To $0.45

After forming a base above the $0.2800 and $0.3000 levels, dogecoin started a fresh rally. It broke many important hurdles near the $0.3500 and $0.3550 levels, outperforming bitcoin.

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DOGE rallied above the $0.4000 barrier and settled above the 100 simple moving average (4-hours). It tested the $0.4500 resistance zone and a high is formed near $0.4512.

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