Dogecoin is struggling below the $0.180 resistance zone against the US Dollar; Dogecoin needs to stay above the $0.1450 support zone for DOGE to start a new rise.
DOGE has started a new decline below the $0.1750 zone against the US dollar.
The price is trading above the $0.1700 zone and the 100 simple moving average (4-hour).
On the four-hour chart of the DOGE/USD pair (Kraken data source), an important contraction has formed with support at $BTC If the price does not close below the $0.1450 support level, it may resume the upward movement.
After trying to overcome the $0.20 resistance zone, the #Dogecoin price started a new decline: there was a sharp bearish move below the $0.180 and $0.1650 levels; #DOGE traded as low as $0.1283 and recently attempted a recovery, similar to #BTC and #BTC . It was trading at the $0.1450 level.
Prices were above the $0.1450 level. It broke the 23.6% Fib retracement level of the downtrend from the high of $0.2096 to the low of $BTC However, bears are active around the $0.1680 resistance and the 50% Fib retracement level of the downtrend from $0.2096 high to $0.1283 low. The price is currently holding around $0.1550, with a significant decline forming on the 4-hour chart of the DOGE/USD pair, with support at $BTC Dogecoin is also below the $0.1600 level and the 100 simple moving average (4-hour). On the upside, it faces resistance near $0.160. The next major resistance is near the $0.170 level; a pullback above the $0.170 level could take it to the $0.1880 level. The next major resistance is near the $0.200 level. Further growth may bring the price to the level of $0.220.
Further decline in the price of DOGE?
If the DOGE price fails to consolidate above the $0.160 level, it could continue to move downward. Initial support for the downtrend is around the $0.1520 level.
The next major support is around the $0.1450 level; if the price breaks below $ 0.1450, it could continue to fall.
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