Dogecoin Price Declines Below $0.380, Facing Key Resistance Levels

Dogecoin (DOGE) is undergoing a correction from $0.4050 against the US Dollar, currently consolidating below key resistance levels.

DOGE has declined below $0.4050 and $0.380.
Current trading is below $0.3750 and the 100-hourly simple moving average.
A bearish trend line is forming with resistance at $0.3650 on the hourly chart.
If it clears $0.3650 and $0.3680, DOGE may attempt a fresh increase.

Price Movements

DOGE has dipped below the $0.400 and $0.380 support levels, reaching a low of $0.3380. It is consolidating below the 23.6% Fibonacci retracement level of the downward move from $0.3860 to $0.3380.

Immediate resistance is near $0.3650 and the trend line. A close above $0.3750 could lead to a potential rise toward $0.3860 and possibly $0.40, with further targets around $0.420.

Potential Declines

If DOGE fails to rise above $0.3750, it may decline further, with initial support at $0.340 and major support at $0.3380. The main support is at $0.3250; a break below this could lead to declines towards $0.3020 or $0.300.

Technical Indicators

Hourly MACD indicates bearish momentum.
RSI is below 50.
Major Support Levels – $0.3380 and $0.3250.
Major Resistance Levels – $0.3650 and $0.3750.