Dogecoin began a new drop below the $ 0.270 area compared to the US dollar. DOGE is now consolidated and could face obstacles close to $ 0,2550.
- Doge Price started a new drop below levels of $ 0.270 and $ 0.260.
- The price is negotiated below the level of $ 0.260 and the mobile average at 100 hours.
- There is a lower connection line of connection forming with resistance at $ 0.2560 on the time graph of the DOGE / USD pair (Kraken data source).
- The price could start another increase if it erases resistance levels of $ 0.2560 and $ 0,2600.
Dogecoin Price faces resistance
The price of Dogecoin began a new drop compared to the resistance zone of $ 0.2840, such as Bitcoin and Ethereum. DOGE fell below support levels of $ 0.270 and $ 0.260. He even increased below $ 0.250.
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 wave down of the swing of $ 0.2830 at $ 0.2420. The price even released the resistance level of $ 0,2,500.
The Dogecoin price is now negotiated below the level of $ 0.260 and the mobile average at 100 hours. Immediate upward resistance is close to the level of $ 0,2550. There is also a lower connection trend line forming with resistance at $ 0.2560 on the time graph of the Doge / USD pair.
The first major resistance for the bulls could be close to the level of $ 0.2620 or the level of FIB retracement 50% from the downwind, from the sword of $ 0.2830 at the level of $ $ $ 0.2420 . The next major resistance is close to the level of $ 0.2670.
A fence greater than the resistance of $ 0.2670 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 $ 0.260, it could start another drop. The initial support for the decline is close to the level of $ 0.2480. The next major support is close to the level of $ 0.2420.
The main support is at $ 0,2350. If there is a break down below the support of $ 0,2350, the price could decrease more. In the case indicated, the price could decrease to the level of $ 0.2220, or even $ 0,2,150 in the short term.
Technical indicators
MacD Schedule – The MacD for Doge / USD is now losing momentum in the lower area.
Schedule RSI (Relative force index) – The RSI for Doge / USD is now lower than level 50.
Major support levels – $ 0.2480 and $ 0.2420.
Major resistance levels – $ 0,2600 and $ 0.2620.