Dogecoin Price Declines Below $0.270 Amidst Resistance Challenges
Dogecoin (DOGE) Update
- DOGE dropped below the $0.270 and $0.260 levels, currently trading below the 100-hourly simple moving average.
- A bearish trend line is forming with resistance at $0.2560 on the hourly chart.
- The price formed a low at $0.2420 but has since attempted a recovery, moving above the $0.250 resistance.
- Immediate resistance is near $0.2550, with major resistance at $0.2620 and $0.2670.
- A close above $0.2670 could push the price towards $0.300 and potentially $0.320.
Potential Decline Risks
- If DOGE fails to surpass $0.260, it may decline further with initial support at $0.2480 and major support at $0.2420.
- A break below $0.2350 could lead to declines towards $0.2220 or $0.2150.
Technical Indicators
- MACD shows losing momentum in the bearish zone.
- RSI is below the 50 level.
