🚀 DOGE Defies Gravity — Can It Ward Off a Freefall or Is the Crash Inevitable?

Dogecoin fell below $0.250 versus the US Dollar again. DOGE is consolidating and may go below $0.2250.

Below $0.2420, DOGE price fell again.
Below $0.2320 and the 100-hourly simple moving average.

The DOGE/USD hourly chart broke below a crucial ascending channel with support around $0.2295 (Kraken).
If price remains over $0.2165, it may rise again.

Dogecoin Falls Again

Dogecoin, like Bitcoin and Ethereum, rose over $0.240. DOGE passed $0.2420 before bears emerged.

At $0.2430, the price peaked and fell. It fell below $0.240 and $0.2350. The price fell below the 50% Fib retracement line of the $0.2163 swing low to $0.2430 high.

Additionally, the DOGE/USD hourly chart broke below a crucial ascending channel with support around $0.2295. Dogecoin is below $0.2320 and the 100-hourly SMA.

Bulls are guarding the 76.4% Fib retracement of the $0.2163 swing low to $0.2430 high. If there is a comeback wave, $0.2295 is immediate upward resistance. Bulls may see first resistance at $0.2320.

Near $0.2420 is the next significant resistance. A closing above $0.2420 might push pricing above $0.250. More advances might push the price toward $0.2650. Bulls may halt at $0.2780 next.

More DOGE losses?
DOGE may continue to fall if it fails to get over $0.2320. Initial downside support is $0.2220. Near $0.2165 is the next important support.

The major support is $0.2150. If the price breaks $0.2150, it might fall further. The price may drop to $0.2050 or $0.2020 in the short term.

Tech Indicators

DOGE/USD's hourly MACD is becoming negative.

DOGE/USD's hourly RSI is below 50.

Key Support Levels: $0.2165, $0.2150.

Major Resistance: $0.2320, $0.2420.

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