Dogecoin Price Struggles Below $0.2620 Resistance Level

Dogecoin (DOGE) has experienced a decline, trading below the $0.2620 support level against the US Dollar. Currently, it is consolidating and struggling to surpass the $0.2550 resistance.

DOGE fell below $0.270 and $0.2620, forming a low at $0.2420.
The price is currently under the $0.2580 level and the 100-hourly simple moving average.
A break occurred above a bearish trend line with resistance at $0.2540.
If DOGE exceeds $0.2550 and $0.2620, it may initiate another increase.

Price Analysis

Despite a recovery attempt above the 23.6% Fib retracement level, DOGE remains below critical resistance levels:

Immediate resistance near $0.2550.
Major resistance around $0.2625 and $0.2720.
A close above $0.2720 could lead to targets of $0.300 and $0.320.

Potential Decline

If DOGE fails to rise above $0.2550, potential declines may occur:

Initial support at $0.2500.
Next major support at $0.2450.
Main support at $0.2420; a breach could lead to $0.2350 or $0.2220.

Technical Indicators

Hourly MACD indicates losing momentum in the bullish zone.
RSI is below the 50 level.