Dogecoin价格进一步下降

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Dogecoin price started a fresh decline after it failed to clear $0.200, like Bitcoin and Ethereum. DOGE dipped below the $0.1880 and $0.1820 support levels.

The bears were able to push the price below the $0.1750 support level. It even traded close to the $0.1620 support. A low was formed at $0.1628 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low.

Dogecoin price is now trading below the $0.1750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.170 level. There is also a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair.

The first major resistance for the bulls could be near the $0.1730 level. The next major resistance is near the $0.1770 level. A close above the $0.1770 resistance might send the price toward the $0.1850 resistance.

The 50% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low is also near the $0.1850 zone. Any more gains might send the price toward the $0.1880 level. The next major stop for the bulls might be $0.1950.

If DOGE’s price fails to climb above the $0.1770 level, it could start another decline. Initial support on the downside is near the $0.1635 level. The next major support is near the $0.1620 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 $0.1320 level or even $0.120 in the near term.

Dogecoin Price Down

Dogecoin started the week strong, breaking above the 0.182 level and aiming for the 0.2 level. However, like Bitcoin and Ethereum, DOGE failed to sustain gains above the 0.2 psychological barrier.

As a result, Dogecoin price dipped back below the 0.182 and 0.188 levels. The bears pushed the price below the 0.175 level, and it even traded close to the 0.1620 support.

The low was formed at 0.1628, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the 0.2057 swing high to the 0.1628 low.

The Fib retracement level is at 0.168, and it’s likely to provide some support on any further declines. Moreover, the 100-hourly simple moving average is providing immediate support at 0.17.

On the other hand, the price action is encountering immediate resistance at 0.17, and it’s also trading below the 100-hourly simple moving average.

Additionally, the key bearish trend line, which has support at 0.17 on the hourly chart of the DOGE/USD pair, could pose an obstacle for the bulls.

The first major resistance for the bulls is at 0.173, where the price previously faced selling pressure. The next relevant resistance is at 0.177.

A break above the 0.177 resistance might push the price towards the 0.185 resistance. The 50% Fib retracement level of the downward move from the 0.2057 swing high to the 0.1628 low is also located near the 0.185 zone.

Any further gains could send the price towards the 0.188 level. The next major stop for the bulls might be 0.195.

On the downside, the main support on any further weakness is at 0.155. There is also a key Fib retracement support at 0.163.

A downside break below the