Dogecoin is struggling under the $0.180 resistance zone in opposition to the US Dollar. DOGE should keep above the $0.1450 assist zone to start out a contemporary enhance.
- DOGE began a contemporary decline under the $0.1750 zone in opposition to the US greenback.
- The worth is buying and selling above the $0.1700 stage and the 100 easy shifting common (4 hours).
- There is a key contracting forming with assist at $0.1540 on the 4-hour chart of the DOGE/USD pair (information supply from Kraken).
- The worth might restart its enhance except there’s a shut under the $0.1450 assist.
Dogecoin Price Turns Red
After struggling to clear the $0.20 resistance zone, Dogecoin worth began a contemporary decline. There was a pointy bearish transfer under the $0.180 and $0.1650 ranges. DOGE traded as little as $0.1283 and just lately tried a restoration wave like Bitcoin and Ethereum.
The worth climbed above the $0.1450 stage. It broke the 23.6% Fib retracement stage of the downward transfer from the $0.2096 swing excessive to the $0.1283 low.
However, the bears are lively close to the $0.1680 resistance and the 50% Fib retracement stage of the downward transfer from the $0.2096 swing excessive to the $0.1283 low. The worth is now consolidating close to the $0.1550 stage. There can also be a key contracting forming with assist at $0.1540 on the 4-hour chart of the DOGE/USD pair.
Source: DOGEUSD on TradingView.com
Dogecoin can also be under the $0.1600 stage and the 100 easy shifting common (4 hours). On the upside, the worth is going through resistance close to the $0.160 stage. The subsequent main resistance is close to the $0.170 stage. An in depth above the $0.170 resistance would possibly ship the worth towards the $0.1880 resistance. The subsequent main resistance is close to $0.200. Any extra good points would possibly ship the worth towards the $0.220 stage.
More Downsides in DOGE?
If DOGE’s worth fails to realize tempo above the $0.160 stage, it might proceed to maneuver down. Initial assist on the draw back is close to the $0.1520 stage.
The subsequent main assist is close to the $0.1450 stage. If there’s a draw back break under the $0.1450 assist, the worth might decline additional. In the acknowledged case, the worth would possibly decline towards the $0.120 stage.
Technical Indicators
4 Hours MACD – The MACD for DOGE/USD is now gaining momentum within the bearish zone.
4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now under the 50 stage.
Major Support Levels – $0.1520, $0.1450 and $0.1280.
Major Resistance Levels – $0.1600, $0.1780, and $0.200.
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