Dogecoin (DOGE) Slips Once More—Bears Tighten Grip on Meme Coin Darling

NewsBTC
Updated
Mitrade
coverImg
Source: DepositPhotos

Dogecoin started a fresh decline from the $0.1880 zone against the US Dollar. DOGE is now consolidating losses and might recover if it clears $0.1780.

  • DOGE price started a fresh decline below the $0.1880 and $0.180 levels.

  • The price is trading below the $0.180 level and the 100-hourly simple moving average.

  • There is a short-term bearish trend line forming with resistance at $0.1760 on the hourly chart of the DOGE/USD pair (data source from Kraken).

  • The price could start a fresh decline if it declines below the $0.180 zone.

Dogecoin Price Dips Again

Dogecoin price started a fresh decline after it failed to clear the $0.1880 zone, like Bitcoin and Ethereum. DOGE declined below the $0.1800 and $0.1750 levels.

The bears even pushed the price below the $0.1720 level. A low was formed at $0.1695 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $0.2064 swing high to the $0.1697 low.

Dogecoin price is now trading below the $0.180 level and the 100-hourly simple moving average. There is also a short-term bearish trend line forming with resistance at $0.1760 on the hourly chart of the DOGE/USD pair.

Immediate resistance on the upside is near the $0.1760 level. The first major resistance for the bulls could be near the $0.1785 level. The next major resistance is near the $0.180 level. A close above the $0.180 resistance might send the price toward the $0.1880 resistance. It is close to the 50% Fib retracement level of the downward move from the $0.2064 swing high to the $0.1697 low.

Dogecoin Price

Any more gains might send the price toward the $0.200 level. The next major stop for the bulls might be $0.2120.

More Losses In DOGE?

If DOGE’s price fails to climb above the $0.180 level, it could start another decline. Initial support on the downside is near the $0.1720 level. The next major support is near the $0.1700 level.

The main support sits at $0.1680. If there is a downside break below the $0.1680 support, the price could decline further. In the stated case, the price might decline toward the $0.1550 level or even $0.1525 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.1700 and $0.1680.

Major Resistance Levels – $0.1760 and $0.1800.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Jupiter Price Forecast: JUP eyes further gains amid record high TVL, $150M DeFi lending boostJupiter (JUP) edges higher by over 7% at press time on Tuesday, extending the uptrend for the fourth consecutive day. The momentum grows as Jupiter announces a $150 million USDC allocation to its Jupiter Liquidity Provider (JLP) loans, aiming to boost its Decentralized Finance (DeFi) lending. 
Author  FXStreet
7 Month 22 Day Tue
Jupiter (JUP) edges higher by over 7% at press time on Tuesday, extending the uptrend for the fourth consecutive day. The momentum grows as Jupiter announces a $150 million USDC allocation to its Jupiter Liquidity Provider (JLP) loans, aiming to boost its Decentralized Finance (DeFi) lending. 
placeholder
Cardano (ADA) Flashes Bullish Signal—Is the Rally Just Beginning?Cardano price started a fresh increase from the $0.720 zone. ADA is now consolidating and might attempt a clear move above the $0.8650 zone. ADA price started a fresh increase from the $0.720 support
Author  NewsBTC
7 Month 18 Day Fri
Cardano price started a fresh increase from the $0.720 zone. ADA is now consolidating and might attempt a clear move above the $0.8650 zone. ADA price started a fresh increase from the $0.720 support
placeholder
Chainlink stabilizes as Westpac and Imperium Markets adopt LINK in Project AcaciaChainlink (LINK) price is stabilizing at around $16.47 on Thursday after rallying 5% so far this week.
Author  FXStreet
7 Month 17 Day Thu
Chainlink (LINK) price is stabilizing at around $16.47 on Thursday after rallying 5% so far this week.
placeholder
Dogecoin (DOGE) Struggles to Wake Up While Floki Rockets HigherDogecoin started a fresh increase above the $0.20 zone against the US Dollar. DOGE is now consolidating and might aim for a move above $0.2120. DOGE price started a fresh increase above the $0.1880
Author  NewsBTC
7 Month 17 Day Thu
Dogecoin started a fresh increase above the $0.20 zone against the US Dollar. DOGE is now consolidating and might aim for a move above $0.2120. DOGE price started a fresh increase above the $0.1880
placeholder
Crypto Week survives scare as House members scramble to advance procedural motion in a 217–212 voteHouse Republicans scrambled to win over holdouts on Wednesday to pass a procedural motion for several crypto bills by a vote of 217–212.
Author  FXStreet
7 Month 17 Day Thu
House Republicans scrambled to win over holdouts on Wednesday to pass a procedural motion for several crypto bills by a vote of 217–212.
Real-time Quote