Dogecoin (DOGE) Weak Rebound Attempts, Signaling | Crypto News
Dogecoin began a recent decline below the $0.180 zone against the US Dollar. DOGE is now correcting some losses and would possibly face hurdles close to $0.1650.
- DOGE price began a recent decline below the $0.180 stage.
- The price is trading below the $0.170 stage and the 100-hourly simple transferring average.
- There is a bearish pattern line forming with resistance at $0.1650 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price might lengthen losses if it stays below $0.1650 and $0.170.
Dogecoin Price Attempts Recovery
Dogecoin price began a recent decline after it closed below $0.20, like Bitcoin and Ethereum. DOGE declined below the $0.180 and $0.1720 assist ranges.
The price even traded below $0.1650. A low was fashioned close to $0.1535, and the price lately tried a recovery wave. There was a transfer above the 23.6% Fib retracement stage of the downward transfer from the $0.1776 swing high to the $0.1535 low.
However, the bears have been lively close to the $0.1620 resistance. Besides, there may be a bearish pattern line forming with resistance at $0.1650 on the hourly chart of the DOGE/USD pair. It is close to the 50% Fib retracement stage of the downward transfer from the $0.1776 swing high to the $0.1535 low.
Dogecoin price is now trading below the $0.1620 stage and the 100-hourly simple transferring average. If there may be a recovery wave, speedy resistance on the upside is close to the $0.1640 stage. The first major resistance for the bulls could possibly be close to the $0.1650 stage.
The next major resistance is close to the $0.170 stage. A close above the $0.170 resistance would possibly ship the price toward the $0.180 resistance. Any more positive aspects would possibly ship the price toward the $0.1840 stage. The next major stop for the bulls is likely to be $0.20.
More Losses In DOGE?
If DOGE’s price fails to climb above the $0.1650 stage, it might continue to transfer down. Initial assist on the draw back is close to the $0.1550 stage. The next major assist is close to the $0.150 stage.
The main assist sits at $0.1380. If there may be a draw back break below the $0.1380 assist, the price might decline additional. In the acknowledged case, the price would possibly slide toward the $0.120 stage or even $0.1050 in the close to time period.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 stage.
Major Support Levels – $0.1550 and $0.1380.
Major Resistance Levels – $0.1650 and $0.1700.
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