Dogecoin's in Trouble: Breaking Support Could Lead to Bearish Action

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Dogecoin is facing bearish signals under the $0.150 resistance against the US Dollar. If it drops below $0.140, it could accelerate its downward trend.

  •  Dogecoin's price is slipping below the $0.150 support.
  •  It's trading under $0.145 and the 100-hourly moving average.
  •  A significant bullish trend line around $0.1425 was broken.
  •  To regain momentum, it needs to surpass $0.145.


Dogecoin Price Declines Again


After a modest rise, Dogecoin met resistance near $0.150. It couldn't sustain its upward movement and fell below $0.145, mimicking Bitcoin and Ethereum.

  • It dropped below $0.142 and the 100-hourly moving average.
  • The price fell below the 50% Fib retracement level from its recent low to high.
  • A key bullish trend line near $0.1425 was broken.


Currently, Dogecoin is below $0.145 and the 100-hourly moving average. Bulls are defending the $0.140 support and the 61.8% Fib retracement level.

  • If it rises, it may encounter resistance at $0.142 and then $0.145.
  • A breakthrough of $0.145 could push it towards $0.150 and beyond.


Potential Further Losses


Failing to surpass $0.145 could mean more downward movement. Initial support is at $0.140, followed by $0.1375.
 

  • A break below $0.1375 could lead to a drop towards $0.130.


Technical Indicators

  • Hourly MACD indicates increasing bearish momentum.
  • Hourly RSI is below 50, suggesting a bearish sentiment.


  • Support Levels: $0.1400, $0.1375, $0.1300.
  • Resistance Levels: $0.1450, $0.1500, $0.1632.

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