Reason to trust

CoinDesk is an independent operating subsidiary of Digital Currency Group, which owns part of Sebastien's Paytopia.

Dogecoin price started a fresh decline as it failed to clear $0.180. DOGE/USD is now consolidating and it might struggle to recover above $0.1680.

Dogecoin Price Dips Again

Dogecoin price started a new decline after it failed to clear the $0.180 resistance. Like Bitcoin and Ether, DOGE pulled back from the key resistance.

Dogecoin price is now trading below the $0.170 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1650 level. The first major resistance for the bulls could be near the $0.1680 level. It is near the 50% Fib retracement level of the downward move from the $0.180 swing high to the $0.1555 low.

The next major resistance is located at the $0.1740 level. A strong close above the $0.1740 resistance might push the price toward the $0.180 resistance. Any further gains might send the price toward the $0.1880 level. The next major stop for the bulls could be $0.1950.

Dogecoin Price Down

There was a break below a key bullish trend line, offering support at $0.170 on the hourly chart of the DOGE/USD pair. The bears pushed the price below the $0.1620 support level. It even traded close to testing the $0.1550 support.

A low was formed at $0.1555, and the price is now slowly consolidating its losses. There was a minor move above the 23.6% Fib retracement level of the downward move from the $0.180 swing high to the $0.1555 low.

Another Decline In DOGE

If DOGE’s price fails to climb above the $0.170 level, it could start another decline. Initial support on the downside is visible at the $0.160 level. The next major support is located at the $0.1550 level.

The main support for the bears is at $0.150. If there is a downside break below the $0.150 support, the price might decline further. In that case, the price might decline toward the $0.1320 level or even $0.120 in the near term.

Relative Strength Index (RSI) – The RSI for DOGE/USD is now above the 50 level on the hourly chart.

Moving Average (4-Hourly) – The MA is still at the $0.160 level, which is a key support.

Major Support Levels – $0.1600 and $0.1550.

Major Resistance Levels – $0.1680 and $0.1740.