Dujakin recovers in a limited way and faces resistance at a level of $ 0.168

Doga has risen in the last hours to exceed the level of $ 0.160 against the US dollar in line with the recovery of digital currency markets led by Bitcoin and Ethereum, yet the rising momentum appears to face difficulties in penetrating the resistance at $ 0.168, which prompted the price to enter a stage of cohesion.

Limited recovery after a drop

Dugkin began a new wave of ascension after having touched a bottom at 0.1450 dollars, and managed to exceed several sub -resistance levels until it reached the peak of $ 0.1699, and this rise returned the price to the simple moving average for 100 hours, which enhances the indicators of stability in the short term, and despite this it is noticed that the price is currently moving sideways above the level of 0.1650 dollars amid the anticipation in the market about the next direction.

The resistance level is an obstacle to the height

There is a clear resistance near the level of 0.1680 dollars, where the price has failed so far to close over this barrier, and if buyers succeed in exceeding this level, the price is likely to target subsequent resistance areas near 0.1720 and then 0.1750 dollars, and exceeding these levels may pave the way about 0.1800, and up to $ 0.2000 in the most optimistic scenario.

Sales pressure threatens recent gains

In the event that the price is not able to penetrate 0.1680, a new decline wave may start, and the initial support is currently located at the upward trend line near 0.1650 dollars, followed by a level of 0.1620 dollars, which corresponds to the Fibonacci correction of the recent rise, breaking the level of $ 0.160 will re -pressure on buyers and may lead to a decline of about 0.150 or even 0.1450 dollars again.

Technical signals indicate twice the momentum

Technical indicators such as MACD are starting to lose momentum in the positive area while the RSI index (RSI) is still moving above the level of 50, which reflects a temporary balance between buyers and sellers, however continued decline in momentum may push the market to break the nearby support levels.