Dogecoin Faces Resistance at $0.1850, Support Near $0.1680

Dogecoin (DOGE) Market Update:

  • DOGE price started a downward correction, falling below $0.180 and the 100-hourly simple moving average.
  • A key bullish trend line was broken at $0.1750 on the DOGE/USD hourly chart, indicating potential further downside.
  • The price is currently consolidating and may find support near $0.1680.

Price Movement and Resistance Levels

  • DOGE previously climbed above $0.1750 but faced resistance at $0.1859 before correcting gains.
  • Immediate resistance levels are at $0.1760, $0.1800, and $0.1850.
  • If the price closes above $0.1850, it may target $0.1920 and potentially $0.20.
  • The next major resistance could be $0.2120 if upward momentum continues.

Dogecoin Price

Potential for Further Losses

  • If DOGE fails to rise above $0.180, it may continue to decrease, with initial support at $0.1715.
  • Main support levels are at $0.1700 and $0.1680; a break below these could lead to $0.1565 or even $0.1520.

Technical Indicators

  • The MACD for DOGE/USD is gaining momentum in the bearish zone.
  • The RSI for DOGE/USD is below the 50 level, indicating potential further declines.

Investors should monitor these support and resistance levels closely to gauge market direction.