Dogecoin began to decline from the 0.1880 region of the exchange rate against the US dollar. Doge is now consolidating the loss and may recover if $0.1780 is cleared.
- The new drop in Doge Price is lower than the $0.1880 and $0.180 levels.
- Price trades below the $0.180 level and the 100-hour simple moving average.
- On the hourly chart of the Doge/USD pair, there is a short-term bearish trend line forming with a resistance of $0.1760 (from Kraken’s data source).
- If the price drops to the $0.180 area, the price may start to drop.
Dogecoin price falls again
Dogecoin Price failed to clear the $0.1880 region, such as Bitcoin and Ethereum. Doge fell below the $0.1800 and $0.1750 levels.
The bear even pushed the price higher than $0.1720. The lows formed at $0.1695, and the current price drops the loss to a 23.6% FIB retracement level, thereby moving from a swing high of $0.2064 to a low of $0.1697.
Dogecoin Price is now trading below the $0.180 level and the 100-hour simple moving average. On the hourly chart of the Doge/USD pair, there is also a short-term bearish trend line forming with a resistance of $0.1760.
Immediate resistance on the rise is close to the $0.1760 level. The Bulls’ first major resistance may be close to the $0.1785 level. The next major resistor is close to the $0.180 level. Turning off resistors above $0.180 may shift the price to a resistor of $0.1880. It is close to the 50% FIB retracement level from $0.2064 swing high to $0.1697 low.
More gains may shift the price to the $0.200 level. The next major site for the Bulls could be $0.2120.
Doji has more losses?
If Doge’s price can’t climb above $0.180, it may drop again. The initial support for disadvantages is close to the $0.1720 level. The next major support is close to $0.1700.
The main support is $0.1680. If supported below $0.1680, the price may drop further. In the case of statements, the price may drop to $0.1550, or even drop to $0.1525 in the short term.
Technical Indicators
Hourly MACD – Doge/USD’s MACD is now losing momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – Doge/USD’s RSI is now above level 50.
Main support levels – $0.1700 and $0.1680.
Major Resistance Levels – $0.1760 and $0.1800.
