Dogecoin started a new drop below the $ 0.2620 area compared to the US dollar. DOGE is consolidated and fights now to eliminate resistance from $ 0,2550.
- Doge Price started a new drop below $ 0.270 and $ 0.2620 levels.
- The price is negotiated below the level of $ 0.2580 and the mobile average at 100 hours.
- There was a break above a lower connection line of connection with resistance at $ 0.2540 on the time graph of the DOGE / USD pair (Kraken data source).
- The price could start another increase if it erases the resistance levels of 0.2550 and $ 0.2620.
Dogecoin’s price is struggling to get a pace
The price of Dogecoin began a new drop below the $ 0,2750 area, unlike Bitcoin and Ethereum. DOGE fell below support levels of $ 0.270 and $ 0.2620. It even increased below $ 0,2,550.
A hollow was formed at $ 0.2420 and the price is now trying to recover. There has been a movement above the FIB trace level of 23.6% of the moving down of the swing of $ 0.2830 at $ 0.2420. There was also a break above a lower connection line of connection with resistance at $ 0.2540 on the time graph of the Doge / USD pair.
However, the pair is struggling to settle above the resistance level of $ 0,2550. The Dogecoin price is now negotiated below the level of $ 0.2540 and the mobile average at 100 hours. Immediate upward resistance is close to the level of $ 0,2550.
The first major resistance for the bulls could be close to the level of $ 0.2625 or the FIB trace level at 50% of the moving down of the swing of $ 0.2830 high at $ 0.2420. The next major resistance is close to the level of $ 0.2720.
A fence greater than the resistance of 0.2720 could send the price to the resistance of $ 0.300. Other gains could send the price at $ 0.320. The next major judgment for Bulls could be $ 0.3420.
Another drop in Doge?
If Doge’s price fails to climb over the level of $ 0,2550, this could start another drop. The initial decline support is close to the level of $ 0.2,500. The next major support is close to the level of $ 0.2,450.
The main support is at $ 0.2420. If there is a break down below the support of $ 0.2420, the price could decrease more. In the indicated case, the price could decrease to the level of $ 0,2350, or even $ 0.2220 in the short term.
Technical indicators
MacD Schedule – The MacD for Doge / USD is now losing momentum in the bullish area.
Schedule RSI (Relative force index) – The RSI for Doge / USD is now lower than level 50.
Major support levels – $ 0,2,500 and $ 0,2420.
Major resistance levels – $ 0,2,550 and $ 0.2620.