Dogecoin Faces Resistance After Decline Below $0.2550 Level
Dogecoin is experiencing a decline against the US Dollar, falling below key support levels:
- DOGE declined below $0.250 and trades under the $0.2540 level and 100-hourly simple moving average.
- A bearish trend line shows resistance at $0.2540, indicating potential further losses if it remains below $0.2550 and $0.260.
- The price attempted recovery but faced resistance around $0.2550.
- Immediate resistance is near $0.2540; significant resistance exists at $0.2550 and $0.260.
- If DOGE surpasses $0.260, prices could reach $0.2780, $0.2840, or even $0.2920.
Possible Downtrend:
- If unable to exceed $0.2540, DOGE may continue downward.
- Initial support lies at $0.2475, with major supports at $0.240 and $0.2320.
- A break below $0.2320 could push prices toward $0.2120 or $0.2050.
Technical Indicators:
- Hourly MACD is gaining in the bullish zone.
- Hourly RSI is above 50.
- Major Support Levels: $0.2475, $0.2400.
- Major Resistance Levels: $0.2540, $0.2600.
