Dogecoin (DOGE) Gives Back Gains, Support Level Under Spotlight
Analysis
Price Impact
MedDoge has corrected from $0.1175 and is currently holding crucial support at $0.10. a break below this level could lead to further declines towards $0.0950 or even $0.0850, while holding it could stabilize the price.
Trustworthiness
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Price Direction
BearishDoge failed to clear $0.1175 and has seen a downside correction, trading below key fib retracement levels and showing bearish momentum on hourly macd and rsi. while $0.10 acts as a strong support, the current technicals suggest further downside pressure if it breaks.
Time Effect
ShortThe analysis is based on hourly charts and focuses on immediate support/resistance levels and near-term price movements, indicating a short-term outlook.
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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 corrected some gains and traded below $0.1080 against the US Dollar. DOGE is now holding the $0.10 support but might decline further. DOGE price started a fresh downside correction from $0.1175. The price is trading above the $0.10 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.10 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could aim for a fresh increase if it remains stable above $0.10. Dogecoin Price Dips Again Dogecoin price started a downside correction after it failed to clear $0.1175, unlike Bitcoin and Ethereum . DOGE declined below the $0.1120 and $0.1080 levels. There was a move below the 50% Fib retracement level of the upward move from the $0.0878 swing low to the $0.1175 high. The bears even pushed the price below $0.1040. However, there is a key bullish trend line forming with support at $0.10 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.10 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1035 level. The first major resistance for the bulls could be near the $0.1065 level. Source: DOGEUSD on TradingView.com The next major resistance is near the $0.1085 level. A close above the $0.1085 resistance might send the price toward $0.1120. Any more gains might send the price toward $0.1150. The next major stop for the bulls might be $0.1175. More Losses In DOGE? If DOGE’s price fails to climb above the $0.1060 level, it could continue to move down. Initial support on the downside is near the $0.10 level and the trend line. The next major support is near the $0.0950 level or the 76.4% Fib retracement level of the upward move from the $0.0878 swing low to the $0.1175 high. The main support sits at $0.0928. If there is a downside break below the $0.0928 support, the price could decline further. In the stated case, the price might slide toward the $0.0880 level or even $0.0850 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 – $0.1000 and $0.0950. Major Resistance Levels – $0.1060 and $0.1085.