🔥🔥🔥 #DogecoinPrice ($DOGE ) Slips Alongside Bitcoin and Ethereum: Market Analysis

Dogecoin Price Analysis: Major Decline Below $0.1000

Current Status


Dogecoin (DOGE) has experienced a significant decline, dropping over 15% from above $0.1200 to below $0.1000, displaying several bearish indicators.

Key Points

- DOGE is trading below $0.100 and the 100-hourly simple moving average.

- A bearish trend line with resistance around $0.1000 is forming on the hourly chart of DOGE/USD (source: Kraken).

- Price must reclaim the $0.1000 resistance zone to avoid further decline.

Recent Performance

- DOGE fell below critical support levels at $0.1120 and $0.1050, forming a low at $0.0881.

- The price is consolidating below the 23.6% Fibonacci retracement level of the drop from $0.1194 to $0.0881.

Resistance and Support Levels

- Immediate resistance: $0.0950, next major resistance:

$0.1000.

- Further resistance: $0.1040 (50% Fibonacci retracement), $0.1080, and potentially $0.1120.

- Initial support: $0.0880, major support: $0.0850, primary support: $0.0780. A break below $0.0780 could lead to $0.0720.

Technical Indicators

- Hourly MACD: Gaining momentum in the #BEARISH📉 zone.

- Hourly RSI: Below the 50 level.

- Major Support Levels: $0.0880, $0.0780.

- Major Resistance Levels: $0.0950, $0.1000.

Conclusion


Dogecoin is under significant bearish pressure and needs to reclaim the $0.1000 resistance to halt its downward trend.

Source - newsbtc.com

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