Dogecoin has begun a new decline from the $0.250 zone against the US dollar. Doge is currently integrated and could fall below $0.2220 support.
- Doge Price has begun a new decline below the $0.2350 level.
- The price is below the $0.2320 level and a simple moving average of 100 hours.
- There is a bearish trendline where resistance forms at $0.2280 in the timely chart of the Doge/USD pair (Kraken data source).
- Prices could begin a new upward movement if they clear resistance levels of $0.2280 and $0.2350.
Dogecoin Price Eyes Recovery Wave
DogeCoin Price is performing Bitcoin and Ethereum, starting a new decline from the $0.250 resistance zone. Doge fell below the support levels of $0.2350 and $0.2320.
The decline reached a pace below the $0.2300 level. The lowest is formed at $0.2225, and the price consolidates the losses. There is also a bearish trendline that forms resistance at $0.2280 on the hourly chart of the Doge/USD pair.
DogeCoin Price is currently below the $0.2320 level and a simple moving average of 100 hours. Immediate resistance is close to the $0.2280 level, with a FIB retracement level of 23.6% being a downward moving level from a swing high of $0.2486 to a low of $0.2225.
The Bulls’ first major resistance ranges from a downward movement of the $0.2350 level or a 50% FIB retracement level to a Swing High of $0.2486 to a low of $0.2225. The next major resistance is close to the $0.2420 level. If the resistance exceeds $0.2420, the price may be sent towards a $0.250 resistance. Any further profit could potentially send the price to the $0.2550 level. The Bulls’ next major stop may be $0.2650.
Doge’s flaw correction?
If Doge’s price does not rise above the $0.2280 level, it may begin to correct the downside. The initial support for the downside is close to the $0.2220 level. The next major support is close to the $0.2120 level.
The main support is $0.2050. If there is a downside below the $0.2050 support, the price could drop even further. If stated, the price could drop to a level of $0.1980 or, in the short term, $0.1920.
Technical indicators
HOURLY MACD – Doge/USD’s MACD is gaining momentum in the bear zone.
Hourly RSI (Relative Strength Index) – DOGE/USD’s RSI is below 50 level.
Key support levels – $0.2220 and $0.2120.
Major resistance levels – $0.2280 and $0.2350.
