DOGE ( price prediction: After breaking through $0.18, it aims for the $0.20 mark.

DOGE against USD ( DOGE/USD ) has recently successfully launched a new round of pump, strongly breaking through the key area of $0.180. The current price is in a consolidation phase, and the market is focused on whether it can successfully break through the important psychological barrier of $0.20.

Gate.io market shows that DOGE has briefly broken through 2 USD, currently reported at 0.19709 USD, with a 24-hour rise of 8.49%.

Shitcoin starts a new round of pump, key resistances are broken in succession

Similar to Bitcoin ( BTC ) and Ethereum ( ETH ), the price of DOGE has strongly started to rise from the $0.1750 region. Bulls successfully pushed the price to break through the two major resistance levels of $0.180 and $0.1880.

The upward momentum is strong, with the price even once breaking through the resistance of 0.1920 USD, ultimately reaching near the 0.20 USD mark, with a peak of 0.1992 USD. Currently, the price is consolidating at a high level, staying above the 23.6% Fibonacci retracement level of this rally from the swing low of 0.1660 USD to the high of 0.1992 USD.

Technical Outlook: Bulls Hold the Advantage, Trendline Builds Support

Currently, the price of DOGE is stably running above 0.1880 USD and is above the 100-hour simple moving average (100-hourly SMA), indicating a bullish short-term trend. More positively, on the hourly chart of DOGE/USD, a bullish trend line is forming and providing immediate support around 0.1910 USD, which offers potential downside protection for the price.

Upside target: Breaking through 0.20 USD will open up greater pump potential

• Immediate resistance level: Located near 0.1980 USD.
• First Key Resistance: The psychological level of $0.20 is the primary challenge facing the bulls.
• Next Important Resistance: After breaking through 0.20 USD, 0.2050 USD will be the next target.
• The significance of breaking 0.2050: If it can effectively close above the 0.2050 USD resistance, it may trigger buying pressure to push the price towards 0.220 USD.
• Higher Target: Continuing the rise may further challenge 0.2320 USD.
• Bull's Ultimate Target: 0.250 USD is an important milestone that bulls may aim for.

Downside risk: If blocked at 0.20 USD, be wary of possible pullback

If the price of DOGE fails to successfully break through and stabilize at the 0.20 USD level, it may trigger a round of downward correction.

• Initial Support: Around 0.1910 USD (i.e., the aforementioned bullish trend line support area) is the first line of defense.
• Key Support: Around 0.1820 USD (i.e., 50% Fibonacci retracement level of the rise from 0.1660 USD to 0.1992 USD) is crucial.
• Main Support Fortress: 0.1780 USD is the bottom line to maintain the current bullish structure.
• Breakdown Risk: If the support at 0.1780 USD is effectively broken, the price may further decline. In this case, it could temporarily test the 0.1750 USD or even 0.1720 USD area.

Technical Indicator Interpretation: Momentum is Bullish but Watch for Overbought Conditions

• Hourly MACD: The MACD indicator for DOGE/USD is currently operating in the bullish zone, and momentum is strengthening (📈 Golden cross diverging upwards).
• Hourly Chart RSI (Relative Strength Index): The RSI indicator is currently above the 50 level (💪 indicating bullish strength, but caution is needed as it approaches 70 for overbought pullback risk).

Core Support and Resistance Summary

• Main support levels: $0.1910 ( trend line support ), $0.1880 ( psychological level & previous resistance turned support )
• Main Resistance Levels: $0.1980 ( immediate resistance ), $0.2000 ( key psychological barrier & breakout target )

Trading Tips: Pay close attention to the price performance around the 0.1910 trendline support and 0.20 USD resistance, and respond flexibly in conjunction with MACD momentum and RSI overbought conditions. A breakout above 0.20 USD could signal a further rise, while losing key support requires caution against pullback risks. Make sure to DYOR (Do Your Own Research) before making investment decisions.