DOGE Price Prediction – Dogecoin Below $0.14 Could Spark Larger Degree Drop
April 26 2024 - 7:29AM
NEWSBTC
Dogecoin is struggling to rise above the $0.1650 resistance zone
against the US Dollar. DOGE could decline heavily if it settles
below the $0.140 support. DOGE is facing many hurdles near the
$0.1650 and $0.170 levels against the US dollar. The price is
trading below the $0.1620 level and the 100 simple moving average
(4 hours). There is a major bearish trend line forming with
resistance at $0.1620 on the 4-hour chart of the DOGE/USD pair
(data source from Kraken). The price must settle above $0.170 to
move into a positive zone and start a fresh surge. Dogecoin Price
Signals Downturn After a major decline, Dogecoin price started a
recovery wave from the $0.1280 zone. A low was formed at $0.1283
and DOGE climbed above $0.1350, like Bitcoin and Ethereum. There
was a move above the $0.1385 and $0.140 resistance levels. The
price climbed above the 23.6% Fib retracement level of the downward
move from the $0.2092 swing high to the $0.1283 low. However, the
bears protected more gains above the $0.170 resistance. The price
failed to test the 50% Fib retracement level of the downward move
from the $0.2092 swing high to the $0.1283 low. There is also a
major bearish trend line forming with resistance at $0.1620 on the
4-hour chart of the DOGE/USD pair. Dogecoin is also below the
$0.160 level and the 100 simple moving average (4 hours). On the
upside, the price is facing resistance near the $0.160 level.
Source: DOGEUSD on TradingView.com The next major resistance is
near the $0.1680 level. The main hurdle is at $0.170. A close above
the $0.170 resistance might send the price toward the $0.1850
resistance. Any more gains might send the price toward the $0.20
level. More Losses in DOGE? If DOGE’s price fails to gain pace
above the $0.160 level, it could start another decline. Initial
support on the downside is near the $0.1475 level. The next major
support is near the $0.1400 level. If there is a downside break
below the $0.1400 support, the price could decline further. In the
stated case, the price might decline toward the $0.120 level.
Technical Indicators 4 Hours MACD – The MACD for DOGE/USD is now
gaining momentum in the bearish zone. 4 Hours RSI (Relative
Strength Index) – The RSI for DOGE/USD is now below the 50 level.
Major Support Levels – $0.1475, $0.1400 and $0.1200. Major
Resistance Levels – $0.1600, $0.1680, and $0.1700.
Dogecoin (COIN:DOGEUSD)
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