🐕 DOGE's Momentum Fades — Is the Meme Coin Magic Over?

Dogecoin rose beyond $0.2320 versus the US Dollar. DOGE is reversing gains at $0.2180.

Above $0.220 and $0.230, DOGE price rose again.
Just below $0.2250 and the 100-hourly simple moving average.

The hourly DOGE/USD chart shows a bullish trend line with support at $0.220.

If it breaks $0.230, the price might rise again.

Rejection for Dogecoin Price

Dogecoin price rose after finding support at $0.2110, like Bitcoin and Ethereum. DOGE rose over $0.220 barrier.

Bulls even broke $0.2320 barrier. However, bears were active around $0.2380. Price dropped after a peak of $0.2378. The $0.2109 swing low to $0.2370 high upward advance fell below the 50% Fib retracement line.

Currently, Dogecoin is below $0.2250 and the 100-hourly simple moving average. The DOGE/USD hourly chart shows a connected bullish trend line with support at $0.220.

Near $0.2250 is immediate upward barrier. Bulls may see first resistance at $0.2320. Near $0.2380 is the next significant resistance. A closing above $0.2380 might push pricing near $0.250. More advances might push the price toward $0.2720. Bulls may halt at $0.2850 next.

More DOGE losses?

DOGE may fall again if it fails to get over $0.2320. Initial downside support is $0.220. The next key support is at $0.2170, the 76.4% Fib retracement level of the upward advance from $0.2109 swing low to $0.2370 high.

The major support is $0.2120. If the price breaks $0.2120, it might fall further. The price may drop to $0.20 or $0.1880 in the short term.

Tech Indicators

DOGE/USD's hourly MACD is becoming negative.

DOGE/USD's hourly RSI is below 50.

Major Support Levels: $0.220, $0.2120.

Major resistance levels: $0.2320, $0.2380.

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