Dogecoin (DOGE) Plummets: Bears Gain Full Control of the Market

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The Dogecoin to USD exchange rate has fallen below the support level of 0.3550 USD and has started to decline significantly. Dogecoin is currently consolidating and may struggle to break the resistance level of 0.350 USD.

The DOGE price has started to fall again, dropping below 0.3650 USD. This price is below the 0.3550 USD level and the 100-hour simple moving average. On the hourly chart of DOGE/USD, a connected bearish trend line has formed, with resistance at 0.3550 USD (data sourced from Kraken). The price may struggle to break through the resistance levels of 0.3550 USD and 0.3650 USD before starting a new round of increases.

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