Dogecoin Faces Resistance Near $0.175 as Price Attempts Recovery

Dogecoin (DOGE) Analysis

DOGE has declined from $0.1900 against the US Dollar.
The price is below $0.180 and the 100-hourly simple moving average.
A bearish trend line with resistance at $0.1740 is forming on the hourly chart.
Immediate resistance is near $0.1750; clearing this level may lead to further gains.

Price Recovery Attempts

DOGE started a recovery after climbing above $0.1650, reaching a high of $0.1920 before declining. The current attempt to recover follows a drop below $0.180 and $0.1750, with a low at $0.1671. The price has surpassed the 50% Fib retracement level of the recent decline.

Current trading below $0.180, facing resistance at $0.1750.
Key resistance levels include $0.1840 and $0.1850.
A close above $0.1850 could drive DOGE towards $0.1920 and potentially $0.200.

Potential for Further Decline

If DOGE fails to rise above $0.1750, it might experience another decline.

Initial support is at $0.170, followed by $0.1680.
Main support sits at $0.160; a break below may lead to further declines towards $0.1550 or $0.1450.

Technical Indicators

Hourly MACD shows decreasing momentum in the bearish zone.
RSI is above 50, indicating potential recovery strength.