Summary
TLDR: Dogecoin (DOGE) broke out from resistance levels and is approaching a critical horizontal resistance area. Technical analysis shows bullish signs, with the potential for a 18% increase if it breaks above $0.105. However, a rejection at this level could lead to a 9% decrease.
Key Points
1. The Dogecoin (DOGE) price broke out from long- and short-term diagonal resistance levels, moving above $0.100 today.
2. DOGE is approaching a critical horizontal resistance area which has existed for more than a year. Will it break out?
3. The weekly Relative Strength Index (RSI) gives a bullish reading, indicating a potential bullish trend for DOGE.