DOGE can recover below $0.14 following its recent rally, check the forecast
Key receivers
DOGE is trading above $0.146 after adding 18% to its value in seven days.
The leader memecoin may face a correction below $0.14.
DOGE trades above $0.14
Meme coins like Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) are leading the cryptocurrency market's rally thanks to geopolitical tensions in Venezuela.
The United States arrested former Venezuelan President Nicolas Maduro and his wife in Venezuela last weekend. A spokeswoman for the US District Court for the Southern District of New York said he was extradited to the US and will appear in federal court at noon on Monday.
This tension allowed the crypto market to rise, with Dogecoin extending its gains for a fifth straight day while SHIB and PEPE paused. The outlook is bearish, but DOGE may face a slight pullback below the $0.14 level in the near term.
Dogecoin can recover below $0.14.
The 4-hour chart of DOGE/USD is bullish and bullish thanks to Dogecoin's rally over the past seven days. The dog-themed meme coin is extending its recovery at the 50-day EMA at $0.14339 and is likely to move higher in the near term.
If the bulls continue to push higher, the DOGE may touch the 200-day EMA at $0.18202, which is in line with the supply zone between $0.18100 and $0.18500.
Technical indicators are aggressive. The RSI of 73 shows that DOGE is heading into overbought territory. The MACD lines continue to rise alongside the green histogram bars, indicating bullish momentum.
However, if the bullish trend declines, DOGE may slip below $0.14339 and retest the $0.1300 psychological level.
