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Dogecoin Price Declines Below $0.1250 Amid Bearish Momentum
Dogecoin Price Analysis
- Dogecoin (DOGE) is experiencing a decline, trading below $0.1250.
- Currently below the $0.1220 level and the 100-hour simple moving average.
- A bearish trend line is forming with resistance at $0.1300.
- Price could further decline if it remains under $0.1280 and $0.1300.
Current Market Status
- DOGE closed below $0.1300, similar to Bitcoin and Ethereum.
- Traded below key support levels of $0.1280 and $0.1250, reaching a low near $0.1198.
- The price is consolidating below the 23.6% Fib retracement from $0.1305 to $0.1198.
- Immediate resistance is around $0.1235; major resistance at $0.1280 and $0.1300.
Potential Scenarios
- If DOGE surpasses $0.1300, it may reach $0.1350 or even $0.1400.
- A failure to break $0.1300 could lead to a decrease towards $0.1200 or $0.1150.
- A downside break below $0.1150 might push the price to $0.1050 or $0.10.
Technical Indicators
- Hourly MACD: Gaining momentum in the bearish zone.
- Hourly RSI: Above the 50 level.
- Key Support Levels: $0.1280, $0.1250.
- Key Resistance Levels: $0.1340, $0.1350.