DOGE needs to surpass $0.065 for a chance at a new increase.

This HTML describes the current state of Dogecoin’s price and potential future movements. Dogecoin is attempting to recover and break above the $0.0585 resistance against the US Dollar. If it clears the $0.065 resistance zone, it could rally. However, it is currently struggling to clear the $0.0628 resistance and is trading below the $0.065 zone and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.0635 on the 4-hours chart of the DOGE/USD pair. After finding support near the $0.0554 zone, Dogecoin’s price has started a decent recovery above $0.058. The bulls have pushed the price above the 23.6% Fib retracement level of the downward move from the $0.0714 swing high to the $0.0554 low. The price is now consolidating above $0.060. If Dogecoin fails to gain pace above the $0.0635 level, it could continue to move down. Initial support on the downside is near the $0.0595 level, and the next major support is near the $0.0580 level. Technical indicators show that the MACD for DOGE/USD is now gaining momentum in the bullish zone, and the RSI for DOGE/USD is now above the 50 level.