Dogecoin Faces Further Declines After Dropping Below Key Support Levels

Dogecoin (DOGE) is experiencing a decline, trading below $0.130 and the 100-hourly simple moving average.

  • Price declined below key support levels of $0.1300 and $0.1250.
  • A low was formed at $0.1154, with bearish signs prevailing.
  • A recovery wave saw movement above $0.1220 but faced resistance.
  • Immediate resistance is near $0.130, with major resistance at $0.1330 and $0.1350.

Dogecoin Price

If DOGE fails to rise above $0.1300, it could continue declining:

  • Initial support at $0.1250; main support at $0.120.
  • Potential further decline towards $0.1150 or $0.1135 if support breaks.

Technical Indicators:

  • Hourly MACD: Losing momentum in the bearish zone.
  • Hourly RSI: Below the 50 level.
  • Major Support Levels: $0.1250 and $0.1220.
  • Major Resistance Levels: $0.1300 and $0.1350.