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#Will Bitcoin break the all-time-high price before the halving?
Dogecoin Soars 25%, Why Is The Uptrend DOGE Not Over Yet?
The price of Dogecoin has surged more than 25% against the US Dollar. DOGE broke through the $0.120 resistance and is expected to continue rising towards the $0.132 resistance. In the last few sessions, the Dogecoin price started a strong rise from the $0.080 support zone. DOGE managed to cross many hurdles near $0.0850 to enter the positive zone.
There was a break above the main contraction triangle with resistance at $0.0845 on the pair's 4-hour chart DOGE/USD. It even broke through the $0.100 resistance to move further into positive zones like Bitcoin and Ethereum.
DOGE rose more than 25% and traded above $0.120. A new multi-week high formed near $0.1282 and the price is now correcting gains. Price is well above the 23.6% Fib retracement level of the recent surge from a $0.0845 swing low to a $0.1282 swing high.
DOGE is also trading above the $0.1220 level and the 100-hour simple moving average. On the upside, the price is facing resistance near the $0.1280 level. The next major resistance is near the $0.1320 level. A close above the $0.1320 resistance could push the price towards the $0.1450 resistance. The next major resistance is near $0.150. Further gains could push the price towards the $0.1620 level.
Decline Correction in DOGE?
If the DOGE price fails to gain momentum above the $0.1280 level, it may initiate a bearish correction.
The initial support on the downside is near the $0.120 level. The next major support is near the $0.1065 level or the 50% Fib retracement level of the recent surge from the $0.0845 swing low to the $0.1282 swing high. In case of a breakout of the downside below the $0.1065 support, the price may drop further. In such cases, the price may decline towards the level of $0.100.