After the price of Dogecoin closed below $0.20, it began a new round of declines, similar to the situation with Bitcoin and Ethereum. Dogecoin broke through the support levels of $0.180 and $0.1720.

The price even dipped below $0.1650 at one point. The low was close to $0.1535, and the recent price attempted to rebound. At one point, the price broke through the 23.6% Fibonacci retracement level of the downward trend from the high of $0.1776 to the low of $0.1535.

However, bears have been very active near the resistance level of $0.1620. Additionally, a descending trend line is forming on the DOGE/USD hourly chart, with resistance near $0.1650. This resistance level is close to the 50% Fibonacci retracement level of the downward trend from the high of $0.1776 to the low of $0.1535.

The price of Dogecoin is currently below $0.1620 and the 100-hour simple moving average. If a rebound occurs, the direct resistance above is near $0.1640. The first major resistance faced by the bulls may be around $0.1650.

The next major resistance is near $0.170. If the closing price is above the $0.170 resistance level, the price may further rise to the $0.180 resistance level. If the price continues to rise, it may further test $0.1840. The next major stop-loss for the bulls may be $0.20.