Dogecoin Price Declines Below $0.170 Amid Ongoing Struggles

Dogecoin (DOGE) has entered a new decline, currently consolidating below critical price levels.

DOGE declined below $0.1750 and $0.170.
Price is trading under $0.1680 and the 100-hourly simple moving average.
A bullish trend line was broken, with support at $0.170.
Further losses may occur if support at $0.1550 is breached.

Current Price Action

After failing to surpass $0.180, Dogecoin dropped below several support levels, forming a low at $0.1555. The price is now consolidating but remains below $0.170, with immediate resistance near $0.1650 and significant resistance at $0.1680.

The next major resistance stands at $0.1740, which could lead to movement towards $0.180 and possibly $0.1880. If the price struggles to rise above $0.170, further declines are anticipated.

Potential Decline Outlook

If DOGE fails to break past $0.170, initial support is at $0.160, followed by $0.1550 and the main support at $0.150. A drop below $0.150 could result in further declines towards $0.1320 or $0.120.

Technical Indicators

Hourly MACD indicates decreasing momentum in the bearish zone.
Hourly RSI is above the 50 level.
Major support levels are at $0.1600 and $0.1550.
Major resistance levels are at $0.1680 and $0.1740.