Dogecoin started a new fall of the $ 0.1700 zone against the US dollar. Doge consolidates and may have difficulty recovering more than $ 0.1650.
- DOGE -Price started a new decrease among the levels of $ 0.1650 and $ 0.1600.
- The price acts below the level of $ 0.1620 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance to $ 0.1620 on the hour table of the DOGE/USD pair (data source of Kraken).
- The price can increase if it breaks the $ 0.1575 support zone.
Dogecoin price faces rejection
Dogecoin price began a new decrease after it was unable to erase $ 0.170, in contrast to Bitcoin and Ethereum. Doge fell under the support levels of $ 0.1650 and $ 0.1600.
The bears could push the price below the support level of $ 0.1585. It was even traded in the vicinity of $ 0.1575. A low point was formed at $ 0.1573 and the price recently corrected some losses. There was a small movement above the 23.6% FIB racement level of the downward movement of the $ 0.1693 Swing High to $ 0.1573 Low.
Dogecoin price is now being traded below the level of $ 0.1620 and the 100-hour simple advancing average. Immediate resistance at the top is near the level of $ 0.1620. There is also a connecting Bearish trend line that forms with resistance at $ 0.1620 on the hour table of the Doge/USD pair.
The first major resistance for the bulls could be near the level of $ 0.1635 and the 50% FIB racement level of the downward movement of the $ 0.1693 Swing high to $ 0.1573 low.
The next major resistance is near the level of $ 0.1665. A nearby $ 0.1665 is close to the price of $ 0.1700. More profits can send the price to the $ 0.1720 level. The next big stop for the bulls can be $ 0.1800.
Another decline of doge?
If the price of doge does not climb above the level of $ 0.1620, this can start a new decrease. The first support on the disadvantage is near the level of $ 0.1575. The next major support is near the level of $ 0.1540.
The most important support is at $ 0.1500. If there is a narrow break under the support of $ 0.1500, the price can fall further. In the case mentioned, the price can fall to the level of $ 0.1420 or even $ 0.1350 in the short term.
Technical indicators
MACD per hour – The MACD for Doge/USD now wins momentum in the Bearish zone.
Picly RSI (relative strength -index) -The RSI for Doge/USD is now below the 50 -level level.
Important support levels – $ 0.1575 and $ 0.1540.
Important resistance levels – $ 0.1620 and $ 0.1665.
