Dogecoin started a recovery wave above $ 0.240 zone against the US dollar. Doge consolidates now and can be confronted with obstacles near $ 0.270.
- DOGE -Price started a recovery wave above the levels of $ 0.2350 and $ 0.2420.
- The price acts below the level of $ 0.2780 and the 100-hour simple advancing average.
- There is a large bearish trend line that forms with resistance to $ 0.260 on the hour table of the DOGE/USD pair (data source of Kraken).
- The price can start a new increase if it knew the resistance levels of $ 0.260 and $ 0.270.
Dogecoin Price Facies Resistance
Dogecoin price started a new decrease in the $ 0.3450 resistance zone, such as Bitcoin and Ethereum. Doge fell under the support levels of $ 0.300 and $ 0.250. It was even below $ 0.220.
The price fell by more than 25% and tested the $ 0.20 zone. A layer was formed at $ 0.20 and the price is rising now. There was a movement above the 50% FIB retracement level of the downward wave of $ 0.3415 Swing high to $ 0.20 low.
However, the bears are active near the $ 0.280 zone. Dogecoin price is now being traded below the level of $ 0.270 and the 100-hour simple advancing average. Immediate resistance at the top is near the level of $ 0.260.
There is also a large Bearish trend line that forms with resistance at $ 0.260 on the hour table of the Doge/USD pair. The first major resistance for the bulls can be near the level of $ 0.270. The next major resistance is near the $ 0.2850 level or the 61.8% FIB retracement level of the downward wave of $ 0.3415 Swing high to $ 0.20 layer.
A close -up resistance of $ 0.2850 can send the price to the $ 0.300 resistance. More profits can send the price to the level of $ 0.320. The next big stop for the bulls can be $ 0.3420.
Another decline of doge?
If the price of doge does not climb above the level of $ 0.270, this can start a new decline. The first support on the disadvantage is near the level of $ 0.2420. The next major support is near the level of $ 0.2250.
The most important support is at $ 0.220. If there is a narrow break under the support of $ 0.220, the price can fall further. In the case mentioned, the price can fall to the level of $ 0.2020 or even $ 0.200 in the nearby term.
Technical indicators
MACD per hour – The MACD for Doge/USD now loses momentum in the bearish zone.
Picly RSI (relative strength -index) -The RSI for Doge/USD is now below the 50 -level level.
Important support levels – $ 0.2420 and $ 0.2250.
Important resistance levels – $ 0.2700 and $ 0.2850.
