Dogecoin (DOGE) Sinks To $0.08 Amid Relentless Bear Pressure

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Dogecoin started a fresh decline below the $0.10 zone against the US Dollar. DOGE is now consolidating losses and might face hurdles near $0.0950 and $0.10. DOGE price started a fresh decline below the $0.10 level. The price is trading below the $0.10 level and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.0950 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could extend losses if it stays below $0.0880 and $0.0850. Dogecoin Price Dives Below Support Dogecoin price started a fresh decline after it closed below $0.1120, like Bitcoin and Ethereum . DOGE declined below the $0.10 and $0.0950 support levels. The price even traded below $0.0850. A low was formed near $0.080, and the price is now showing bearish signs. There was a recovery wave above $0.0840. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.1007 swing high to the $0.080 low. Dogecoin price is now trading below the $0.0950 level and the 100-hourly simple moving average. There is also a key bearish trend line forming with resistance at $0.0950 on the hourly chart of the DOGE/USD pair. If there is a recovery wave, immediate resistance on the upside is near the $0.090 level. The first major resistance for the bulls could be near the $0.0950 level and the trend line. The next major resistance is near the $0.09850 level or the 61.8% Fib retracement level of the downward move from the $0.1007 swing high to the $0.080 low. Source: DOGEUSD on TradingView.com A close above the $0.0985 resistance might send the price toward the $0.1050 resistance. Any more gains might send the price toward the $0.1120 level. The next major stop for the bulls might be $0.120. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.10 level, it could continue to move down. Initial support on the downside is near the $0.0850 level. The next major support is near the $0.0820 level. The main support sits at $0.080. If there is a downside break below the $0.0750 support, the price could decline further. In the stated case, the price might slide toward the $0.0720 level or even $0.070 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.0865 and $0.0800. Major Resistance Levels – $0.0950 and $0.0985.