Dogecoin's Rally Ride: Hold On or Bark!
Dogecoin reversed gains and touched $0.1620 versus the USD. DOGE is creating a base and may rise over $0.1680.
DOGE fell below $0.1620, important support.
The price is below $0.1650 and the 100-hour SMA.
The hourly DOGE/USD chart shows a negative trend line with resistance at $0.1685.
The price must rise over $0.170 to enter a bullish zone and soar.
Dogecoin Maintains Support
After rising steadily, Dogecoin price hit resistance at $0.1750. Before falling like Bitcoin and Ethereum, DOGE reached $0.1705, its swing high. Below $0.1650 support zone.
DOGE is consolidating after a $0.1620 low. Below $0.1650 and the 100-hourly simple moving average, Dogecoin is trading. The price faces upward resistance at $0.1664. The downward move from the $0.1705 swing high to the $0.1620 low is at the 50% Fib retracement level.
The next significant barrier is $0.1685, the 76.4% Fib retracement level of the decline from $0.1705 swing high to $0.1620 low. The hourly DOGE/USD chart shows a negative trend line with resistance at $0.1685.
A closing above $0.1685 might push pricing toward $0.1725. More advances might push the price toward $0.1750. Bulls may halt at $0.1800 next.
More DOGE losses?
DOGE may decrease again if it fails to get beyond $0.1685. Initial negative support is $0.1620.
Near $0.1550 is the next important support. If the price breaks $0.1550, it might fall lower. If so, the price may drop to $0.1520.
Tech Indicators
DOGE/USD hourly MACD is losing momentum in the negative zone.
DOGE/USD's hourly RSI is below 50.
Major Support Levels: $0.1620, $0.1550, $0.1520.
Major Resistance Levels: $0.1660, $0.1685, $0.1720.
