19-5-2025 – Dogecoin has embarked on a spirited ascent, surging past the $0.2320 threshold against the US Dollar, buoyed by a broader market upswing mirrored by Bitcoin and Ethereum. Yet, this upward trajectory has met resistance, with the cryptocurrency now tempering its gains and hovering near the $0.2180 mark.
The digital asset found firm footing at $0.2110, sparking a rally that propelled it beyond the $0.220 and $0.230 barriers. However, bullish momentum waned near $0.2380, where a peak of $0.2378 was recorded before a retreat ensued. The price has since dipped below the $0.2250 level, aligning with the 100-hourly simple moving average, and now tests the mettle of a bullish trend line offering support at $0.220 on the hourly DOGE/USD chart, as per Kraken data.
Should Dogecoin muster the strength to breach the $0.230 resistance, a fresh climb could unfold. Clearing the $0.2380 hurdle might pave the way for a push towards $0.250, with further gains potentially eyeing $0.2720 or even $0.2850. Conversely, failure to surmount $0.2320 could herald a downward drift. Key supports lie at $0.220 and $0.2170, the latter aligning with the 76.4% Fibonacci retracement of the recent $0.2109 to $0.2370 rally. A breach below $0.2120 might see prices slide towards $0.20 or, in a sharper correction, $0.1880.
Technical signals paint a cautious picture: the hourly MACD is tilting bearish, while the RSI lingers below the neutral 50 mark, suggesting waning momentum. Traders now watch the $0.2320 and $0.2380 resistance levels for signs of renewed vigour, while supports at $0.220 and $0.2120 stand as critical bulwarks against further declines.