Dogecoin (DOGE) Bears Eye Breakdown Below $0.20 | Crypto News
Dogecoin began a recent decline below the $0.220 zone against the US Dollar. DOGE is now consolidating and would possibly dip additional below $0.2050.
- DOGE price began a recent decline below the $0.220 stage.
- The price is trading below the $0.2150 stage and the 100-hourly simple shifting average.
- There is a bearish pattern line forming with resistance at $0.2160 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price may start a recent upward transfer if it stays above the $0.20 zone.
Dogecoin Price Dips Again
Dogecoin price began a recent decline after there was a close below $0.2320, like Bitcoin and Ethereum. DOGE declined below the $0.220 and $0.2150 help ranges.
The price even traded below $0.210. A low was shaped at $0.2059 and the price is now consolidating losses. There was a minor recovery wave but the price is still below the 23.6% Fib retracement stage of the latest decline from the $0.2672 swing high to the $0.2059 low.
Dogecoin price is now trading below the $0.2150 stage and the 100-hourly simple shifting average. If there may be a recovery wave, rapid resistance on the upside is close to the $0.2160 stage. There is also a bearish pattern line forming with resistance at $0.2160 on the hourly chart of the DOGE/USD pair.
The first major resistance for the bulls might be close to the $0.2280 stage. The next major resistance is close to the $0.2365 stage. It is close to the 50% Fib retracement stage of the latest decline from the $0.2672 swing high to the $0.2059 low.
A close above the $0.2365 resistance would possibly ship the price toward the $0.2450 resistance. Any more positive factors would possibly ship the price toward the $0.250 stage. The next major stop for the bulls is likely to be $0.2550.
Another Decline In DOGE?
If DOGE’s price fails to climb above the $0.2160 stage, it may continue to transfer down. Initial help on the draw back is close to the $0.2060 stage. The next major help is close to the $0.2020 stage.
The main help sits at $0.20. If there may be a draw back break below the $0.20 help, the price may decline additional. In the said case, the price would possibly slide toward the $0.1880 stage or even $0.1820 in the close to time period.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 stage.
Major Support Levels – $0.2000 and $0.1880.
Major Resistance Levels – $0.2160 and $0.2280.
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