Dogecoin Price Declines Below $0.350 Amid Bearish Trend

Dogecoin (DOGE) is experiencing a decline, trading below key resistance levels and facing potential further losses.

DOGE has fallen below $0.3550 and $0.350.
The price remains under the 100-hourly simple moving average.
A bearish trend line resistance is forming at $0.3350 on the DOGE/USD hourly chart.
Possible recovery if it surpasses the $0.3350 and $0.3420 resistance levels.

Current Price Analysis

DOGE's price declined after failing to break above $0.40, entering a bearish zone below $0.3650 and $0.350. A low of $0.3143 was recorded, with a slight recovery attempt above $0.3250 resistance.

Currently, DOGE trades below $0.340, with immediate resistance at $0.3350 and significant resistance near $0.350. If it closes above $0.350, it could rise towards $0.3620 or even $0.380.

Potential Downside Risks

If DOGE does not break above $0.3350, it may decline further, with initial support at $0.320 and major support at $0.30. A drop below $0.30 could lead to prices around $0.2850 or $0.2720.

Technical Indicators

Hourly MACD is gaining momentum in the bearish zone.
RSI for DOGE/USD is below 50.
Major support levels are at $0.320 and $0.3150.
Major resistance levels are at $0.3350 and $0.3400.