Dogecoin (DOGE) Price Dives Further Below the $0.1850 Zone, Targeting the $0.1440 Support

Dogecoin price is trading in a fresh decline below the $0.1850 zone against the US Dollar. DOGE tested $0.1450 and is now consolidating losses below the $0.1650 resistance.

Dogecoin started a decline and broke the crucial $0.1800 and $0.1680 support levels. It even spiked below the $0.1620 level and hit a low of $0.1440. A high was formed at $0.1809 and the price is now consolidating losses. There was a move above the $0.1500 level and the 23.6% Fib retracement level of the downward move from the $0.1809 swing high to the $0.1440 low.

However, the bulls faced strong resistance near the $0.1620 level or the 50% Fib retracement level. Moreover, the price action broke the connecting bearish trend line resistance at $0.1680 on the hourly chart of the DOGE/USD pair.

The next major resistance for the bulls is near the $0.1720 level. A close above the $0.1720 resistance might send the price toward the $0.1850 resistance. Any more gains might push the price toward the $0.2000 level. The next major stop for the bulls could be the $0.2050 resistance.

If DOGE fails to rise above the $0.1680 level, it could start another decline. The initial support on the downside is near the $0.1500 level. The next major support is visible at $0.1450 and the price might decline further if there is a downside break below the $0.1420 support. In the stated case, the price might decline toward the $0.1350 level or even $0.1250 in the coming sessions.