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.