Key points:
Dogecoin price is gaining bullish momentum above the $0.1500 resistance level.
DOGE is now well above the major bullish trend line support of $0.1285 on the daily chart.
The price is up almost 20% and the bulls are now likely to aim for a move towards $0.1820.

Dogecoin price surged above the $0.150 resistance level. DOGE price beat Bitcoin and could even surge by another 15%.

Dogecoin price surpassed the 1.236 Fib Extension level of the descending wave from the $0.1436 swing high to $0.0807 low. It also comfortably surpassed the major bullish trend line support of $0.1285 on the daily chart.

The current price action is bullish and it suggests that the price could continue to rise above $0.1650. An immediate resistance is near the $0.1700 level. The first major resistance is near the $0.1740 level.

A clear break above the $0.1740 resistance level could push the price towards $0.1825. It is close to the 1.618 Fib extension level of the descending wave from the $0.1436 swing high to $0.0807 low. The next key resistance is located in the $0.1880 area, above which the price could accelerate higher towards $0.1945. Further gains could push the DOGE price towards $0.200 in the coming days.

Recently, Timothy Stebbing shared insights on how Dogecoin has transformed from speculative to useful over the past two years.

Dogecoin might not be able to break out of the $0.1740 resistance or the $0.1825 level. In such a case, the price might start a decline. An immediate support is near the $0.1550 level.

The first major support is near the $0.1435 level (an area that has been touched multiple times), below which the price is likely to decline and test the same bullish trend line at $0.1285. The next major support is near the 50-day simple moving average. If the bulls fail to defend the $0.1200 support, the price could drop to $0.1050.

Overall, Dogecoin’s pace above $0.1500 is picking up speed. To continue its upward move, DOGE must surpass the $0.1700 and $0.1740 resistance levels in the near term.