Dogecoin (DOGE) Red Prints Return, Resistance | Crypto News
Dogecoin began a recent decline below the $0.1320 zone against the US Dollar. DOGE is now consolidating losses and would possibly face hurdles close to $0.1350.
- DOGE price began a recent decline below the $0.1250 stage.
- The price is trading below the $0.130 stage and the 100-hourly simple transferring average.
- There is a connecting bearish pattern line forming with resistance at $0.1350 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price might lengthen losses if it stays below $0.1300 and $0.1350.
Dogecoin Price Dives Below Support
Dogecoin price began a recent decline after it closed below $0.1350, like Bitcoin and Ethereum. DOGE declined below the $0.1300 and $0.1250 help ranges.
The price even traded below $0.120. A low was fashioned close to $0.1154, and the price is now exhibiting bearish indicators. There was a recovery wave above $0.1220. The price cleared the 23.6% Fib retracement stage of the downward transfer from the $0.1512 swing high to the $0.1154 low.
Dogecoin price is now trading below the $0.130 stage and the 100-hourly simple transferring average. If there may be a recovery wave, fast resistance on the upside is close to the $0.130 stage.
The first major resistance for the bulls could possibly be close to the $0.1330 stage or the 50% Fib retracement stage of the downward transfer from the $0.1512 swing high to the $0.1154 low. The next major resistance is close to the $0.1350 stage and pattern line.
A close above the $0.1350 resistance would possibly ship the price toward the $0.1380 resistance. Any more good points would possibly ship the price toward the $0.140 stage. The next major stop for the bulls is perhaps $0.1420.
More Losses In DOGE?
If DOGE’s price fails to climb above the $0.1300 stage, it might continue to transfer down. Initial help on the draw back is close to the $0.1250 stage. The next major help is close to the $0.1220 stage.
The main help sits at $0.120. If there may be a draw back break below the $0.120 help, the price might decline additional. In the said case, the price would possibly slide toward the $0.1150 stage or even $0.1135 in the close to time period.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now dropping momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 stage.
Major Support Levels – $0.1250 and $0.1220.
Major Resistance Levels – $0.1300 and $0.1350.
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