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BEARISH 📉 : Dogecoin falls below $0.0950, risks further decline
Dogecoin Price Analysis
- Dogecoin corrected from $0.1020, trading below $0.0950 against the US Dollar.
- Currently holding support at $0.0885 but risks further decline.
- The price is below the $0.10 mark and the 100-hourly simple moving average.
- A declining channel with resistance at $0.0935 is forming on the hourly chart.
- A stable hold above $0.0880 could lead to a fresh increase.
Resistance and Support Levels
- Immediate resistance is at $0.0935; major resistance levels are $0.0950 and $0.10.
- If DOGE surpasses $0.10, it might target $0.1050 and potentially $0.1120 or higher.
- If unable to rise above $0.10, DOGE may move towards support at $0.0885, $0.0850, and ultimately $0.080.
- A break below $0.080 could push the price to $0.0765 or $0.0750.
Technical Indicators
- Hourly MACD is gaining momentum in the bearish zone.
- Hourly RSI is below the 50 level, indicating weakness.
