Dogecoin seems to be going through a turbulent phase against the US dollar. The cryptocurrency has bounced back from the $0.1280 support level and is now trading above $0.1500 and the 100 simple moving average. However, it is encountering difficulties in surpassing the $0.170 resistance zone.

In the 4-hour chart of the DOGE/USD pair, there is a prominent downtrend line at the $0.170 resistance. The price needs to overcome this resistance to enter a positive zone and initiate a new wave of fluctuations.

Dogecoin's Ongoing Battle with Resistance

Dogecoin, the undisputed king of meme coins, is still grappling with some challenges. The recovery wave from the $0.1280 support level is still under the control of the bears. However, the cryptocurrency has succeeded in rising above the resistance levels of $0.1350 and $0.140.

Currently, Dogecoin is trading below the $0.1650 level and the 100 simple moving average. It may encounter resistance near the $0.1690 level during upward movements.

What if DOGE's Rise Fails?

DOGE's price is finding it hard to settle above the $0.170 level. If this situation persists, the next step could be a downward decline. The first support level downward is around $0.1525.

Below this level, there is another support at $0.1475. However, if the critical support level of $0.1475 experiences a downward break, the price could fall further. In this scenario, a retreat to the $0.1280 levels is expected for DOGE.

Bullish Signals from Technical Indicators

The 4-hour MACD of the DOGE/USD pair is currently gaining momentum in the bullish zone. This could indicate a possible price rise.

Similarly, the 4-hour RSI (Relative Strength Index) of the DOGE/USD pair is also trending above the 50 level. This suggests a potential upward trend in price.

DOGE has set support levels at $0.1525, $0.1475, and $0.1280. On the other hand, resistance levels are observed at $0.1690, $0.1700, and $0.200.