From $0.1680 against the US Dollar, Dogecoin is down again. DOGE is consolidating and could drop below $0.150.
Below $0.1620 and $0.1580, the price of DOGE fell again.
The price is below $0.1600 and the 100-hour SMA.
The hourly chart of DOGE/USD shows a short-term ascending channel or a bearish flag with support at $0.1540.
If the support of $0.1520 is broken, losses could continue.
A Red Dogecoin Price
Dogecoin fell after failing to reach $0.1680 like Bitcoin and Ethereum. Below the support of $0.1620 and $0.1600, DOGE dropped.
The bears pushed the price below $0.1550. It approached $0.1500. The price has just recovered from a low of $0.1504. Minor advance above the 23.6% Fib retracement level of the negative move from $0.1694 high swing to $0.1504 low.
Dogecoin is below $0.1600 and the 100-hour SMA. On the DOGE/USD hourly chart, a short-term ascending channel or a bearish flag is forming with support around $0.1540.
There is immediate resistance to the upside at $0.1580. Bulls may encounter their first significant barrier at $0.1600, the 50% Fib retracement level of the drop from $0.1694 high swing to $0.1504 low.
Close to $0.1620 is the next major resistance. A close above $0.1620 could push prices towards $0.1700. Further advances could push the price towards $0.1720. Bulls could stop at $0.1800 thereafter.
Another Drop for DOGE?
DOGE could fall again if it fails to break above $0.1600. The initial support to the downside is $0.1540. Close to $0.1520 is the next significant support.
Major support is at $0.1500. If the price breaks $0.1500, it could fall even further. The price could drop to $0.1420 or $0.1350 in the short term.
Technical Indicators
The hourly MACD of DOGE/USD is turning negative.
The hourly RSI of DOGE/USD is below 50.
Key Support Levels: $0.1540, $0.1500.
Major Resistance: $0.1600, $0.1620.
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