Dogecoin started a new decline under the $ 0.2620 zone against the US dollar. Doge consolidates now and is struggling to erase the $ 0.2550 resistance.
- DOGE -Price started a new decrease among the levels of $ 0.270 and $ 0.2620.
- The price acts below the level of $ 0.2580 and the 100-hour simple advancing average.
- There was a break above a connecting bearish trend line with resistance at $ 0.2540 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 $ 0.2550 and $ 0.2620.
Dogecoin prize is struggling to win pace
Dogecoin price started a new fall below $ 0.2750 zone, in contrast to Bitcoin and Ethereum. Doge fell under the support levels of $ 0.270 and $ 0.2620. It was even below $ 0.2550.
A low point was formed at $ 0.2420 and the price is now trying to restore. There was a movement above the 23.6% FIB retraction level of the downward movement of the $ 0.2830 Swing high to $ 0.2420 low. There was also a break over a connecting bearish trend line with resistance at $ 0.2540 on the hour table of the Doge/USD pair.
However, the pair struggles to settle above the resistance level of $ 0.2550. Dogecoin price is now being traded below the level of $ 0.2540 and the 100-Urly simple advancing average. Immediate resistance at the top is near the level of $ 0.2550.
The first major resistance for the bulls could be near the $ 0.2625 level or the 50% FIB retracement level of the downward movement of the $ 0.2830 Swing high to $ 0.2420 low. The next major resistance is near the level of $ 0.2720.
A nearby $ 0.2720 nearby 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 $ 0.2550, this can start a decrease. The first support on the disadvantage is near the level of $ 0.2500. The next major support is near the level of $ 0.2450.
The most important support is at $ 0.2420. If there is a narrow break under the support of $ 0.2420, the price can fall further. In the indicated case, the price can fall to the level of $ 0.2350 or even $ 0.2220 in the short term.
Technical indicators
Hourly MacD – The MACD for Doge/USD now loses momentum in the bullish zone.
Picly RSI (relative strength -index) -The RSI for Doge/USD is now below the 50 -level level.
Important support levels – $ 0.2500 and $ 0.2420.
Important resistance levels – $ 0.2550 and $ 0.2620.