Dogecoin ($DOGE ) drops over 5% - Is this the beginning of a larger crash?
Dogecoin (DOGE) Technical Analysis
The Dogecoin to USD exchange rate has fallen below $0.2650, initiating a new round of declines, currently consolidating above $0.2450. If this support cannot be maintained, the price may drop further.
Key Movements
DOGE broke below the support levels of $0.2620 and $0.2550, with a low reaching $0.2451.
A bearish trend line has formed on the hourly chart, with resistance at $0.2550.
Current price is below $0.250 and the 100-hour moving average.
Resistance Levels
First resistance: $0.2520
Key resistance: $0.2550
If broken, the target looks towards $0.2720 → $0.280 → $0.288.
Support Levels
Initial support: $0.2450
Lower support: $0.2320 / $0.2250
If it breaks below $0.2250, the price may quickly test $0.2120 ~ $0.2050.
Technical Indicators
MACD: Bearish momentum increasing
RSI: Below 50, weak signal
Conclusion
In the short term, DOGE remains under downward pressure.
Maintaining $0.2450 is crucial for a potential rebound and testing $0.2550.
If it fails to hold, the focus will continue towards $0.2320 / $0.2250.
