Dogecoin Price Declines Below $0.20, Faces Potential Further Losses

Dogecoin (DOGE) is experiencing a decline after failing to break the $0.2450 resistance level, now trading below $0.20.

DOGE price declined below $0.220 and $0.20.
Current trading is below $0.20 and the 100-hour simple moving average.
A bullish trend line shows support at $0.1910 on the hourly chart.
Price could rise if it surpasses the $0.20 resistance.

Price Analysis

The decline followed a failure to clear resistance levels, with DOGE dropping to a low of $0.1855 before consolidating losses. A minor increase above the 23.6% Fib retracement level has occurred.

Immediate resistance is at $0.20; further resistance appears at $0.2060, near the 50% Fib retracement level. Major resistance is at $0.2120, with potential upward targets at $0.2250 and $0.250.

Potential Further Declines

If DOGE does not exceed $0.20, it may see another decline. Key support levels are at $0.1910 and $0.1850, with major support at $0.1720. A drop below this could lead to further declines toward $0.1650 or $0.1550.

Technical Indicators

MACD indicates losing momentum in the bearish zone.
RSI is above the 50 level.
Major support levels are $0.1910 and $0.1855.
Major resistance levels are $0.2000 and $0.2060.