Dogecoin Price Corrects Gains, Could Decline Below $0.1920
- Dogecoin's price is consolidating and may decline below $0.1920 after struggling to rise above $0.2180.
- The current price is trading below $0.2050 and the 100-hourly simple moving average.
- A bearish trend line is forming with resistance at $0.2025 on the hourly chart.
Current Price Movement
After settling above $0.20, Dogecoin saw an increase, surpassing the $0.2050 resistance. However, it has since corrected below the $0.2050 level.
If there is another upward move, key resistance levels to watch are $0.2025, $0.2085, and $0.2120. A break above $0.2120 could push the price towards $0.2180 or even $0.2250.
Potential for More Losses
- If Dogecoin fails to rise above $0.2085, it may see a correction toward $0.1930 or $0.1880.
- Main support remains at $0.1800; a break below this could lead to further declines to $0.1665 or $0.1650.
Technical Indicators:
- Hourly MACD: Bearish zone momentum.
- Hourly RSI: Below the 50 level.
- Support Levels: $0.1930, $0.1880
- Resistance Levels: $0.2085, $0.2180