Dogecoin (DOGE) Stuck Under $0.10, Bulls Can’t Force Break Higher
Analysis
Price Impact
MedThe article suggests dogecoin is struggling to break the $0.10 resistance and is facing downward pressure, with potential for further losses if key support levels are breached. however, it also notes a bullish trendline and potential for an increase if it holds above $0.0920.
Trustworthiness
HighPrice Direction
NeutralThe price is currently in a consolidation phase, with immediate resistance at $0.0943 and $0.0952, and support at $0.0932 and $0.0920. a break above $0.0965 could lead to bullish movement towards $0.10, while a break below $0.0900 could signal further bearish decline.
Time Effect
ShortThe analysis focuses on short-term price movements and immediate support/resistance levels, using hourly chart data and hourly technical indicators.
Original Article:
Article Content:
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 from the $0.0980 zone against the US Dollar. DOGE is now holding the $0.0920 support and remains at risk of more losses. DOGE price started a fresh downside correction below $0.0950. The price is trading above the $0.0920 level and the 100-hourly simple moving average. There is a bullish trend line forming with support at $0.0932 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 $0.0920. Dogecoin Price Dips Again Dogecoin price started a downside correction after it failed to surpass $0.0980, like Bitcoin and Ethereum . DOGE declined below the $0.0960 and $0.0950 levels. There was a move below the 50% Fib retracement level of the upward move from the $0.0903 swing low to the $0.0980 high. The price even spiked below $0.0930 before the bulls appeared. Dogecoin price is now trading above the $0.0920 level and the 100-hourly simple moving average. Besides, there is a bullish trend line forming with support at $0.0932 on the hourly chart of the DOGE/USD pair. Immediate resistance on the upside is near the $0.09430 level. The first major resistance for the bulls could be near the $0.0952 level. The next major resistance is near the $0.0965 level. Source: DOGEUSD on TradingView.com A close above the $0.0965 resistance might send the price toward $0.0980. Any more gains might send the price toward $0.0988. The next major stop for the bulls might be $0.10. More Losses In DOGE? If DOGE’s price fails to climb above the $0.0952 level, it could continue to move down. Initial support on the downside is near the $0.0932 level and the trend line. The next major support is near the $0.09220 level or the 76.4% Fib retracement level of the upward move from the $0.0903 swing low to the $0.0980 high. The main support sits at $0.090. If there is a downside break below the $0.090 support, the price could decline further. In the stated case, the price might slide toward the $0.0880 level. Any more losses might call for a test of $0.0850. 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 – $0.0920 and $0.0900. Major Resistance Levels – $0.0952 and $0.0965.