Dogecoin (DOGE) Can’t Catch A Break—Bears Keep Swinging

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 recovery wave above the $0.0980 zone against the US Dollar. DOGE is now facing hurdles near $0.1010 and might struggle to continue higher. DOGE price started a recovery wave from $0.0965 and climbed above $0.0990. The price is trading below the $0.10 level and the 100-hourly simple moving average. There is a bearish trend line forming with resistance at $0.1010 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to move up if it stays above $0.1010. Dogecoin Price Faces Resistance Dogecoin price started a recovery wave from the $0.0965 zone, like Bitcoin and Ethereum . DOGE climbed above the $0.0980 and $0.0988 resistance levels. There was a decent upward move above the 38.2% Fib retracement level of the downward move from the $0.1031 swing high to the $0.0964 low. However, the price struggled near $0.10. There is also a bearish trend line forming with resistance at $0.1010 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading below the $0.10 level and the 100-hourly simple moving average. If there is another recovery wave, immediate resistance on the upside is near the $0.1005 level or the 61.8% Fib retracement level of the downward move from the $0.1031 swing high to the $0.0964 low. Source: DOGEUSD on TradingView.com The first major resistance for the bulls could be near the $0.1010 level. The next major resistance is near the $0.1032 level. A close above the $0.1032 resistance might send the price toward the $0.1050 resistance. Any more gains might send the price toward the $0.1065 level. The next major stop for the bulls might be $0.1120. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.1010 level, it could continue to move down. Initial support on the downside is near the $0.0985 level. The next major support is near the $0.0965 level. The main support sits at $0.0950. If there is a downside break below the $0.0950 support, the price could decline further. In the stated case, the price might slide toward the $0.0920 level or even $0.090 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 – $0.0985 and $0.0965. Major Resistance Levels – $0.1010 and $0.1032.