Dogecoin Price Declines Below Key Support Levels Amid Bearish Trends

Dogecoin (DOGE) Price Update

DOGE began a decline from the $0.1700 zone.
Current trading below $0.1620 and the 100-hourly simple moving average.
A bearish trend line is forming with resistance at $0.1620.
If it breaks below $0.1575, further losses are expected.

Price Movement Details

DOGE failed to maintain above $0.1700, dropping below support levels of $0.1650 and $0.1600. A recent low was recorded at $0.1573. Recovery efforts have seen minor movement above the 23.6% Fib retracement level from $0.1693 to $0.1573.

Resistance levels include:

$0.1620 - immediate resistance
$0.1635 - next significant resistance
$0.1665 - major resistance threshold

If these levels are surpassed, potential highs could reach $0.1700 and $0.1800.

Potential for Further Decline

If DOGE does not exceed $0.1620, it may face another decline. Key support levels are:

$0.1575 - initial support
$0.1540 - subsequent major support
$0.1500 - critical support level

A break below $0.1500 could lead to prices declining towards $0.1420 or $0.1350.

Technical Indicators

MACD shows increasing bearish momentum.
RSI is currently below the 50 level.