!! Dogecoin players should pay attention !!
—— Dogecoin (DOGE) is under pressure and sliding into a bear market ——
Dogecoin has fallen below $0.1850 against the US dollar, testing $0.1450 before stabilizing around $0.1650. Previously, it faced resistance at $0.2000 and $0.1850, causing the price to decline, dipping below $0.1750 and the 100-hour SMA. In the DOGE/USD hourly chart, the negative trend line points to the resistance level at $0.1680, breaking above $0.1620 and $0.1680 or rebounding.
———— Downtrend Continues ————
After Bitcoin and Ethereum broke below $0.2000, Dogecoin also fell, losing support at $0.1850 and $0.1680, briefly breaking below $0.1620. After hitting a low of $0.1440, it consolidated and rebounded above $0.1500, with bulls breaking the 23.6% Fibonacci retracement level, but still below $0.1850 and the 100-hour SMA. $0.1620 (50% Fibonacci retracement level) and $0.1680 are upward resistance levels. The next major resistance is at $0.1720; if the closing price is above this, it could break $0.1850 and even push towards $0.2000, but bulls may pause around $0.2050.
———— Downward Risk Still Exists ————
If it cannot break above $0.1680, Dogecoin may fall again. $0.150 is the initial support, with significant support around $0.1450, and $0.1420 being the main support level. If it breaks below $0.1420, the price may quickly drop to $0.1350 or even $0.1250.
———— Technical Indicators Bearish ————
The DOGE/USD hourly MACD shows weakening momentum in the negative zone, and the hourly RSI is below 50. Key support levels are $0.1500 and $0.1450, with major resistance at $0.1680 and $0.1880.
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