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Dogecoin (DOGE) has started a recovery move from the $0.0880 zone, mirroring similar rebounds in Bitcoin and Ethereum. The token has climbed above the $0.090 and $0.0920 resistance levels, but the advance faces active selling pressure near key levels.
After rebounding from $0.0880, DOGE made a move toward the 50% Fibonacci retracement level of the decline from the $0.1061 swing high to the $0.0877 low. Despite the upward push, bears have remained active around the $0.0970 area.
On the hourly chart for the DOGE/USD pair, a contracting triangle is forming, with support at $0.0920. The price could continue higher if it holds above $0.090.
DOGE is currently trading below the $0.0955 level and the 100-hourly simple moving average. If another recovery wave develops, immediate resistance is expected near $0.0970.
If DOGE fails to move above the $0.0970 level, the price could resume downward. Initial support is near $0.0920, followed by $0.0900.
The main support is at $0.0875. A break below $0.0875 could lead to further declines toward $0.0820, and potentially $0.0800 in the near term.
Source: DOGEUSD on TradingView.com
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