Dogecoin (DOGE) Nosedives Toward $0.20—More Pain Ahead?
Dogecoin started to be in USD less than USD 0.250 against the USD. The $0.2050 tested by Doge now consolidates resistance below $0.2250.
- Doge Price’s new decline is below the $0.260 and $0.250 levels.
- Prices traded below $0.2380 and the 100-hour simple moving average.
- On the hourly chart of the Doge/USD pair, there is a connected bearish trend line with a resistance of $0.2180 (from Kraken’s data source).
- If the price clears the resistance levels of $0.2180 and $0.2200, the price may start to recover.
Dogecoin’s price drops by more than 5%
Dogecoin price starts below the $0.2650 area, different Bitcoin and Ethereum. Doge fell below the $0.260 and $0.250 support levels. It’s even below $0.2150.
The price is $0.2052, and now the price combines the loss. Move above the $0.2080 level, but the price is still below the 23.6% drop in FIB retracement level, from the $0.2609 swing speed to the $0.2052 low.
Dogecoin price is now trading below $0.2250, while the 100-hour simple moving average. Immediate resistance on the rise is close to the $0.2150 level. The Bulls’ first major resistance may be close to the $0.2180 level.
On the hourly chart of the Doge/USD pair, there is also a connected bearish trend line with resistance of $0.2180. The next major resistor is close to the $0.2250 level.
Turning off resistors above $0.2250 may shift the price to 0.2330 resistors and 50% FIB recovery levels, thereby high from $0.2609 to $0.2052 low. More gains may shift the price to the $0.250 level. The next major site for the Bulls could be $0.2620.
Doji has more losses?
If Doge’s price fails to climb above $0.2180, it may drop again. The initial support for disadvantages is close to the $0.2065 level. The next major support is close to the $0.2050 level.
The main support is $0.20. If supported below $0.20, the price may drop further. In the case of statements, the price may drop to $0.1880, or even drop to $0.1740 in the short term.
Technical Indicators
Hourly MACD – Doge/USD’s MACD is now gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – Doge/USD’s RSI is now below level 50.
Main support levels – $0.2050 and $0.2000.
Major resistance levels – $0.2180 and $0.2250.
