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- Dogecoin price has pierced through the hurdle at $0.0813 and is attempting to use it to propel higher.<\/strong><\/li>\n
- A bounce off this level could catalyze a 10% move to the selling climax at $0.0946.<\/strong><\/li>\n
- Invalidation of the bullish thesis will occur if DOGE flips $0.0813 into a resistance level.\u00a0<\/strong><\/li>\n<\/ul>\n
Dogecoin price shows a clear sign of bouncing off<\/a> a stable support level. With the help of the resetting bullish momentum, DOGE could kick-start a quick rally.<\/p>\n
Dogecoin price prepares for another leg<\/strong><\/h2>\n
Dogecoin price has recovered above the selling climax at $0.0705 and rallied 32%<\/a>. In its ascent, DOGE has also flipped the $0.0813 hurdle into a support level. As the dog-themed crypto trades around the $0.0856 level, investors can expect range tightening or a retest of the immediate support level at $0.0813.<\/p>\n
The Relative Strength Index (RSI) has pulled back from the overbought region to the midpoint, suggesting that the bulls now have a chance to make a comeback. A reset of the RSI at 50 could be the catalyst that triggers Dogecoin price to kick-start a rally to tag the buying climax at $0.0946.<\/p>\n
While this is a conservative outlook, a successful flip of this hurdle into a support floor on the daily time frame will allow Dogecoin price to scale to $0.106, bringing the total gain to 30%<\/a>.<\/p>\n
![\"DOGE\/USDT](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/DOGEUSDT_2023-01-22_11-02-57-638099623848522350.png\")
<\/p>\nDOGE\/USDT 1-day chart<\/small><\/p>\n
On the other hand, if Dogecoin price fails to sustain above $0.0813, it will signal a weakening bullish camp. A flip of this level into a resistance level will invalidate the bullish thesis and favor profit-taking. In such a case, DOGE could slide 12% to revisit the selling climax at $0.0705.<\/p>\n
\n - A bounce off this level could catalyze a 10% move to the selling climax at $0.0946.<\/strong><\/li>\n