Dogecoin Price Declines Below $0.1400 Amid Bearish Trend

Dogecoin's price has declined below the $0.1400 level against the US Dollar, now consolidating losses.

DOGE is trading below $0.1380 and the 100-hourly simple moving average.
A bearish trend line forms with resistance at $0.1375 on the DOGE/USD hourly chart.
The price may extend losses if it remains below $0.1400 and $0.1420.

Price Analysis

Dogecoin dropped after falling under $0.1420, similar to Bitcoin and Ethereum. It dipped below support levels of $0.1400 and $0.1380, reaching a low near $0.1326 before a minor correction.

The price faces immediate resistance at $0.1380, with significant resistance around $0.1400 and $0.1425. A close above these could lead to targets of $0.1450 and potentially $0.1500.

Dogecoin Price Chart

Potential Decline

If unable to surpass the $0.140 level, DOGE might continue its decline with initial support at $0.1340 and major support at $0.1300. A break below $0.130 could push the price toward $0.1250 or $0.1240.

Technical Indicators:

Hourly MACD: Gaining momentum in the bearish zone.
Hourly RSI: Above the 50 level.
Major Support Levels: $0.1340, $0.1300.
Major Resistance Levels: $0.1400, $0.1420.