DOGE Flatlines—Breakout or Breakdown?
Below $0.2620, Dogecoin fell against the US Dollar again. DOGE is consolidating and failing to break $0.2550.
Below $0.270 and $0.2620, DOGE price fell again.
The price is below $0.2580 and the 100-hour SMA.
DOGE/USD broke above a negative trend line with resistance at $0.2540 on the hourly chart.
Dogecoin fell below $0.2750, unlike Bitcoin and Ethereum. DOGE fell below $0.270 and $0.2620. Spiked below $0.2550.
Price has fallen to $0.2420 and is trying to rebound. Above the 23.6% Fib retracement level of the $0.2830 swing high to $0.2420 low bearish move. Doge/USD broke above a connecting bearish trend line with resistance at $0.2540 on the hourly chart.
The duo is failing to break $0.2550 resistance. Dogecoin is below $0.2540 and the 100-hourly SMA. Near $0.2550 is immediate upward resistance.
Bulls may encounter their first significant barrier at $0.2625 or the 50% Fib retracement level of the decline from $0.2830 swing high to $0.2420 low. Near $0.2720 is the next significant resistance.
A closing above $0.2720 might push pricing above $0.300. More advances might push the price toward $0.320. Bulls may halt at $0.3420 next.
Another DOGE Drop?
DOGE may fall again if it fails to get over $0.2550. Near $0.2500 is first downward support. Near $0.2450 is the next important support.
The major support is $0.2420. If the price breaks $0.2420, it might fall further. The price may fall to $0.2350 or $0.2220 in the short term.
Tech Indicators
Hourly MACD - DOGE/USD MACD is losing bullish momentum.
DOGE/USD's hourly RSI is below 50.
Major Support Levels: $0.2500, $0.2420.
Major Resistance: $0.2550, $0.2620.
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