Dogecoin (DOGE) Bulls Eye Key Resistance At $0.4484, But Can They Break It?

The Dogecoin price is showing signs of renewed bullish momentum as the price sets its sights on the key resistance level of $0.4484.

Dogecoin price analysis reveals a bullish uptrend as the price eyes the key resistance level of $0.4484. Following a breakout from the $0.3563 resistance, Dogecoin encountered another layer of resistance at $0.4484. This level marks a crucial point for DOGE, as a successful突破 could lead to further gains.

Dogecoin price faces resistance at $0.4484 – up next? 4-Hour Chart

4-Hour Chart. Source: TradingView

Dogecoin price action shows a strong bullish trend as it continues to trade above the 100-day SMA on the 4-hour chart. Following the breakout from the $0.3563 resistance, DOGE established a support base and now targets the $0.4484 resistance.

suggesting that buyers are in control of the price movement. A breakout at this level could lead to more gains, extending the current uptrend and attracting more optimistic interest.

An analysis of the 4-hour Relative Strength Index reveals a sustained upsurge, with the RSI rising to 91% after breaking above the 50% mark. This indicator showcases strengthening buying pressure as the market shifts from a bearish phase to a more neutral or bullish stance. With the bulls firmly in control, this upward momentum suggests the possibility of additional price increases if buying strength continues.

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Dogecoin eyes next key level up on 4-Hour chart. Source: TradingView

Moreover, the daily chart for Dogecoin price highlights the strong upward pressure the asset is facing, which is evident in the formation of bullish candlestick patterns. The asset’s position above the critical 100-day SMA further supports this positive trend. As DOGE continues on this path, it strengthens the optimistic sentiment in the market, paving the way for additional gains as it targets the $0.4484 mark.

Relative Strength Index at 92%, indicating strong positive movement after recovering from a dip to 57%, suggesting a shift in market sentiment with increased buying pressure. However, the sustained elevated RSI, indicating overbought conditions, could lead to a correction if buying strength slows.

Dogecoin price faces next key resistance level

The $0.4484 level holds significant importance for the Dogecoin price, as it represents a key resistance point that could trigger a possible breakout. Should Dogecoin successfully surpass this level, it could pave the way for further upward movement, extending the current bullish trend and targeting the next resistance at $0.5920.

However, if the level holds as resistance, DOGE may face a period of consolidation or pullback before making another attempt at breaking through.