Dogecoin Eyes a Rebound — But Faces Brick Wall at Key Resistances
From $0.1720 versus the US Dollar, Dogecoin fell again. #DOGE may rebound if it breaks $0.1580 after consolidating losses.
Below $0.170 and $0.160, DOGE price fell again.
The price is below $0.160 and the 100-hour SMA.
DOGE/USD broke above a negative trend line with resistance at $0.1510 on the hourly chart.
If it remains below $0.1580, the price may fall again.
Resistance to Dogecoin Price
Dogecoin fell after failing to break $0.1720, behind Bitcoin and Ethereum. DOGE fell below $0.1600 and $0.1580.
Bears drove the price below $0.1450. Price has fallen to $0.1427 and is trying to rebound. Minor advance over 23.6% Fib retracement level of negative move from $0.1718 swing high to $0.1427 low.
In addition, the DOGE/USD hourly chart broke above a negative trend line with resistance around $0.1510. Dogecoin is below $0.1580 and the 100-hourly SMA.
Near $0.1550 is immediate upward barrier. Bulls may see first resistance at $0.1580. The 50% Fib retracement level of the decline from the $0.1718 swing high to the $0.1427 low is near.
Near $0.1610 is the next significant resistance. A closing above $0.1610 might push pricing toward $0.1720. More advances might push the price toward $0.200. Bulls may halt at $0.2120 next.
Another DOGE Drop?
DOGE may fall again if it fails to get beyond $0.1580. Initial negative support is $0.1480. Near $0.1440 is the next important support.
The major support is $0.1420. If the price breaks $0.1420, it might fall further. The price may fall to $0.1350 or $0.1280 in the short term.
Tech Indicators
DOGE/USD hourly MACD is losing momentum in the negative zone.
Hourly RSI (Relative Strength Index): DOGE/USD is over 50.
Key Support Levels: $0.1440, $0.1420.
Key Resistance Levels: $0.1580, $0.1610.
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Disclaimer:Not financial advice! Always do your own research!