The Dogecoin (DOGE) to USD exchange rate initiated a new round of decline after breaking below the key area of $0.150. The price is currently consolidating at lower levels and may face resistance around $0.1420 in the short term.
Recent price trend review
Dogecoin's price began to weaken after breaking below $0.1520, subsequently losing important support levels at $0.150 and $0.1450.
The technical chart shows that DOGE/USD has broken below the key upward trend line on the hourly chart (original support was around $0.1520). The price once dipped to $0.1369 and has broken below the 23.6% Fibonacci retracement level from the $0.1566 high to the $0.1369 low, indicating a technical bearish signal.
The current DOGE price is below $0.1450 and the 100-hour simple moving average, indicating an overall weak structure.
Key resistance and support analysis:
1. Upper resistance observation
Initial resistance is near $0.1420, with the first key resistance around $0.1465, corresponding to the 50% Fibonacci retracement level of the recent downtrend. The next resistance to watch is $0.1490; if the price can successfully close above $0.1490, it is expected to further test the resistance zone at $0.1520, and a breakthrough may open up upward space to $0.1550.
2. Downward support focus
Recent low near $0.1370 forms initial support, major support is at $0.1350, and the key support area is at $0.1330. If the $0.1330 support fails, the price may further drop to the range of $0.1250–$0.1240.
3. Technical indicators performance
Hourly MACD indicator: In the bearish zone and continues to weaken, showing that the downward momentum is still ongoing
Hourly RSI indicator: Below the 50 level, indicating that current market selling pressure is dominant
Market outlook
If the price of Dogecoin cannot effectively break through the resistance at $0.1465, it may continue the current downward trend. Traders need to closely monitor the suppression situation in the resistance zone of $0.1420–$0.1465, as well as the defensive strength in the support area of $0.1350–$0.1330.
Key price level summary: Major resistance at $0.1420, $0.1465. Major support at $0.1350, $0.1250
The Dogecoin (DOGE) exchange rate against the US dollar began a new round of decline after breaking below the key area of $0.150. The current price is consolidating at a low level, and may face resistance around $0.1420 in the short term.
Recent price trend review
The price of Dogecoin began to weaken after breaking below $0.1520, subsequently losing important support levels of $0.150 and $0.1450.
Technical charts show that DOGE/USD has broken below the key upward trend line (original support was around $0.1520). The price once dipped to $0.1369 and has broken below the 23.6% Fibonacci retracement level from the high of $0.1566 to the low of $0.1369, presenting a technical bearish signal.
The current DOGE price is below $0.1450 and the 100-hour simple moving average, indicating an overall weak structure.
Key resistance and support analysis:
1. Upper resistance observation
Initial resistance is near $0.1420, with the first key resistance around $0.1465, corresponding to the 50% Fibonacci retracement level of the recent downtrend. The next resistance to watch is $0.1490; if the price can successfully close above $0.1490, it is expected to further test the resistance zone at $0.1520, and a breakthrough may open up upward space to $0.1550.
2. Downward support focus
Recent low near $0.1370 forms initial support, major support is at $0.1350, and the key support area is at $0.1330. If the $0.1330 support fails, the price may further drop to the range of $0.1250–$0.1240.
3. Technical indicators performance
Hourly MACD indicator: In the bearish zone and continues to weaken, showing that the downward momentum is still ongoing
Hourly RSI indicator: Below the 50 level, indicating that current market selling pressure is dominant
Market outlook
If the price of Dogecoin cannot effectively break through the resistance at $0.1465, it may continue the current downward trend. Traders need to closely monitor the suppression situation in the resistance zone of $0.1420–$0.1465, as well as the defensive strength in the support area of $0.1350–$0.1330.
Key price level summary: Major resistance at $0.1420, $0.1465. Major support at $0.1350, $0.1250#DogeRocket
