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Dogecoin (DOGE) Slips Back Into the Red—Is Momentum Breaking Down?

Dogecoin began a contemporary decline under the $0.1450 zone in opposition to the US Dollar. DOGE is now consolidating losses and may face hurdles close to $0.1420.

  • DOGE worth began a contemporary decline under the $0.1450 degree.
  • The worth is buying and selling under the $0.140 degree and the 100-hourly easy shifting common.
  • There was a break under a key bullish development line with help at $0.1450 on the hourly chart of the DOGE/USD pair (information supply from Kraken).
  • The worth may prolong losses if it stays under $0.1420 and $0.1450.

Dogecoin Price Dips Further

Dogecoin worth began a contemporary decline after it closed under $0.150, like Bitcoin and Ethereum. DOGE declined under the $0.1450 and $0.1420 help ranges.

More importantly, there was a break under a key bullish development line with help at $0.1450 on the hourly chart of the DOGE/USD pair. The worth even traded under $0.140. A low was fashioned close to $0.1372, and the worth is now exhibiting bearish indicators under the 23.6% Fib retracement degree of the downward transfer from the $0.1531 swing high to the $0.1372 low.

Dogecoin worth is now buying and selling under the $0.140 degree and the 100-hourly easy shifting common. If there’s a restoration wave, rapid resistance on the upside is close to the $0.1410 degree. The first main resistance for the bulls could possibly be close to the $0.1450 degree and the 50% Fib retracement degree of the downward transfer from the $0.1531 swing high to the $0.1372 low.

The subsequent main resistance is close to the $0.1495 degree. An in depth above the $0.1495 resistance may ship the worth towards the $0.1530 resistance. Any extra features may ship the worth towards the $0.1550 degree. The subsequent main cease for the bulls may be $0.1620.

More Losses In DOGE?

If DOGE’s worth fails to climb above the $0.1450 degree, it may proceed to maneuver down. Initial help on the draw back is close to the $0.1375 degree. The subsequent main help is close to the $0.1350 degree.

The predominant help sits at $0.1330. If there’s a draw back break under the $0.1320 help, the worth may decline additional. In the acknowledged case, the worth may slide towards the $0.1250 degree and even $0.1240 in the close to time period.

Technical Indicators

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

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

Major Support Levels – $0.1350 and $0.1250.

Major Resistance Levels – $0.1420 and $0.1450.

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