Dogecoin Price Declines Below $0.1750, Faces Resistance at $0.1740

Dogecoin (DOGE) is experiencing a decline from the $0.1850 level against the US Dollar, currently facing resistance around $0.1740.

DOGE price failed to surpass $0.1880 and has corrected its gains.
The price is below $0.1750 and the 100-hour simple moving average.
A bearish trend line is forming with resistance at $0.1725 on the hourly chart of DOGE/USD.
A potential upward move could occur if it clears the $0.1780 resistance zone.

Current Price Movement

The price started declining after failing to clear $0.1880, dropping below support levels at $0.1800 and $0.1750. It tested the $0.1680 zone, forming a low at $0.1685, and is now attempting a recovery above $0.170.

Immediate resistance is near $0.1720, with further resistance at $0.1765 (50% Fib retracement of the drop from $0.1843 to $0.1685) and $0.1780. A close above $0.1780 might push prices toward $0.1850 and possibly $0.200.

Outlook for DOGE

If DOGE fails to exceed $0.1740, another decline may begin. Initial support is at $0.1685, with major support at $0.1650 and $0.1600. A break below $0.160 could lead to further drops toward $0.1550 or $0.1450.

Technical Indicators:

Hourly MACD shows decreasing momentum in the bearish zone.
Hourly RSI is below the 50 level.
Major Support Levels: $0.1685 and $0.1650.
Major Resistance Levels: $0.1740 and $0.1780.