Dogecoin (DOGE) Turns Red

Dogecoin started a fresh decline from the $0.1850 zone against the US Dollar. DOGE is now correcting losses and might find face hurdles near $0.1740.

DOGE price failed to clear $0.1880 and corrected gains.The price is trading below the $0.1750 level and the 100-hourly simple moving average.There is a key bearish trend line forming with resistance at $0.1725 on the hourly chart of the DOGE/USD pair (data source from Kraken).The price could start a fresh increase if it clears the $0.1780 resistance zone.

Dogecoin Price Dips Again

Dogecoin price started a fresh decline after it failed to clear the $0.1880 zone, like Bitcoin and Ethereum. DOGE declined below the $0.1800 and $0.1750 support levels.

Finally, it tested the $0.1680 zone. A low was formed at $0.1685 and the price is now attempting a recovery wave. It climbed above the $0.170 and toward the 23.6% Fib retracement level of the downward move from the $0.1843 swing high to the $0.1685 low.

Dogecoin price is now trading below the $0.1750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1720 level. There is also a key bearish trend line forming with resistance at $0.1725 on the hourly chart of the DOGE/USD pair.