Dogecoin (DOGE) Price Dips Below Support. Might Recover if It Clears $0.180

Dogecoin price started a fresh decline after it failed to clear the $0.20 zone, like Bitcoin and Ethereum. DOGE declined below the $0.1920 and $0.1880 levels.

The bears even pushed the price below the $0.1750 level. A low was formed at $0.1687 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $0.2005 swing high to the $0.1687 low.

Dogecoin price is now trading below the $0.1850 level and the 100-hourly simple moving average. There is also a key bearish trend line forming with resistance at $0.1880 on the hourly chart of the DOGE/USD pair.

At the moment, the price of Dogecoin hovers around $0.1718.

Dogecoin faces immediate resistance on the upside is near the $0.1760 level, which is the Fib retracement level. The first major resistance for the bulls could be near the $0.1840 level. It is close to the 50% Fib retracement level of the downward move from the $0.2005 swing high to the $0.1687 low.

The next major resistance is near the $0.1880 level. A close above the $0.1880 resistance might send the price toward the $0.20 resistance. Any more gains might send the price toward the $0.2050 level. The next major stop for the bulls might be $0.2120.

If DOGE’s price fails to climb above the $0.1850 level, it could start another decline. Initial support on the downside is near the $0.1685 level and the trend line. The next major support is near the $0.1650 level.

The main support sits at $0.1550. If there is a downside break below the $0.1550 support, the price could decline further. In the stated case, the price might decline toward the $0.1350 level or even $0.1320 in the near term.