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Home»Analysis»Dogecoin (Doge) Flatlines – Is there a breakout or breakdown by hand?
Analysis

Dogecoin (Doge) Flatlines – Is there a breakout or breakdown by hand?

2025-02-21No Comments3 Mins Read
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Dogecoin started a new decline under the $ 0.2620 zone against the US dollar. Doge consolidates now and is struggling to erase the $ 0.2550 resistance.

  • DOGE -Price started a new decrease among the levels of $ 0.270 and $ 0.2620.
  • The price acts below the level of $ 0.2580 and the 100-hour simple advancing average.
  • There was a break above a connecting bearish trend line with resistance at $ 0.2540 on the hour table of the Doge/USD pair (data source of Kraken).
  • The price can start a new increase if it knew the resistance levels of $ 0.2550 and $ 0.2620.

Dogecoin prize is struggling to win pace

Dogecoin price started a new fall below $ 0.2750 zone, in contrast to Bitcoin and Ethereum. Doge fell under the support levels of $ 0.270 and $ 0.2620. It was even below $ 0.2550.

A low point was formed at $ 0.2420 and the price is now trying to restore. There was a movement above the 23.6% FIB retraction level of the downward movement of the $ 0.2830 Swing high to $ 0.2420 low. There was also a break over a connecting bearish trend line with resistance at $ 0.2540 on the hour table of the Doge/USD pair.

However, the pair struggles to settle above the resistance level of $ 0.2550. Dogecoin price is now being traded below the level of $ 0.2540 and the 100-Urly simple advancing average. Immediate resistance at the top is near the level of $ 0.2550.

The first major resistance for the bulls could be near the $ 0.2625 level or the 50% FIB retracement level of the downward movement of the $ 0.2830 Swing high to $ 0.2420 low. The next major resistance is near the level of $ 0.2720.

See also  Preparing for the next step up?

Dogecoin -price

A nearby $ 0.2720 nearby can send the price to the $ 0.300 resistance. More profits can send the price to the level of $ 0.320. The next big stop for the bulls can be $ 0.3420.

Another decline of doge?

If the price of doge does not climb above the level of $ 0.2550, this can start a decrease. The first support on the disadvantage is near the level of $ 0.2500. The next major support is near the level of $ 0.2450.

The most important support is at $ 0.2420. If there is a narrow break under the support of $ 0.2420, the price can fall further. In the indicated case, the price can fall to the level of $ 0.2350 or even $ 0.2220 in the short term.

Technical indicators

Hourly MacD – The MACD for Doge/USD now loses momentum in the bullish zone.

Picly RSI (relative strength -index) -The RSI for Doge/USD is now below the 50 -level level.

Important support levels – $ 0.2500 and $ 0.2420.

Important resistance levels – $ 0.2550 and $ 0.2620.

Source link

Breakdown Breakout DOGE Dogecoin Flatlines Hand
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