๐ฅ DOGE Hovers Below Critical Resistance โ Will Momentum Return or Fade?
From $0.1820 versus the US Dollar, Dogecoin fell again. DOGE is consolidating losses and may rebound over $0.1750.
Below $0.1820 and $0.180, DOGE price fell again.
The price is below $0.1780 and the 100-hour SMA.
DOGE/USD broke above a negative trend line with resistance around $0.1680 on the hourly chart.
If it remains below $0.1780, the price may fall again.
Resistance to Dogecoin Price
After failing to break $0.1820, Dogecoin fell behind Bitcoin and Ethereum. DOGE fell below $0.1800 and $0.1780.
Bears drove the price below $0.170. Price is trying to rebound from $0.1641's low. Minor advance over 23.6% Fib retracement level of negative move from $0.1811 swing high to $0.1641 low.
Additionally, the DOGE/USD hourly chart broke above a negative trend line with resistance around $0.1680. Dogecoin is below $0.1780 and the 100-hourly SMA.
Near $0.1725 is immediate upward resistance. The 50% Fib retracement level of the decline from the $0.1811 swing high to the $0.1641 low is approaching. Bulls may see first resistance at $0.1750.
Near $0.1820 is the next big resistance. A closing above $0.1820 might push pricing above $0.1880. 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 over $0.1750. Initial negative support is $0.1680. Near $0.1640 is the next important support.
The major support is $0.1620. If the price breaks $0.1620, it might fall further. In this situation, the price may fall to $0.150 or $0.1440 soon.
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: $0.1640, $0.1620.
$0.1750โ$1800 are major resistance levels.
