Dogecoin (DOGE) Heats Up Again — Bulls Eye a Fresh 20% Surge

Dogecoin is up over 25% and trading above the $0.220 support zone. DOGE price could soon extend rally if it clears the $0.260 resistance. Dogecoin Price Rallies Over 25% In the last technical analysis, we discussed the chances of more gains in Dogecoin price if it clears the $0.20 and $0.220 resistance levels. The bulls did remain in action above the $0.20 level and pumped the price above the $0.2350 resistance. There was a clear move above the 23.6% Fib retracement level of the downward wave from the $0.4336 swing high to the $0.1297 low. More importantly, the price settled above the $0.220 resistance and the 50-day simple moving average. Dogecoin is now consolidating above the $0.2320 level and the 50-day simple moving average. The current price and the recent bullish moves in Bitcoin suggest that DOGE could soon start another increase. Immediate resistance on the upside sits near the $0.250 level. The first major resistance is near the $0.260 level. A close above the $0.250 and $0.260 resistance levels could set the pace for a larger increase. In the stated case, the price could surge and drift toward the $0.2815 level. The next key resistance sits near the $0.3175 level and the 61.8% Fib retracement level of the downward wave from the $0.4336 swing high to the $0.1297 low. Any more gains might send DOGE price toward the $0.3620 level in the coming days. Are Dips Supported In DOGE? Conversely, Dogecoin might struggle to surpass the $0.250 resistance or $0.250. In the stated case, the price could start a short-term downside correction. Immediate support on the downside is near the $0.220 level. The next major support sits at the $0.2020 level. If there is a close below the $0.2020 support, the price might drop toward the $0.1850 support in the medium term. There is also a key bullish trend line forming with support near $0.1850 on the daily chart. A downside break and close below the $0.1850 support might spark heavy bearish moves and might call for a test of the 50-day simple moving average. Overall, DOGE is consolidating above $0.220 and $0.2250. To start a fresh surge increase, DOGE must surpass the $0.250 and $0.260 resistance levels in the near term. If not, it could revisit the $0.2020 support.