Dogecoin Price Prediction: Doge Turns Red, Can This Support Save The Bulls?
21 Abril 2023 - 1:46AM
NEWSBTC
Dogecoin started a fresh decline from $0.0950 against the US
Dollar. DOGE is declining but the $0.080 support might protect more
downsides. DOGE failed to clear $0.0950 and started a fresh decline
against the US dollar. The price is trading below the $0.088 zone
and the 100 simple moving average (4 hours). There was a break
below a major bullish trend line with support near $0.0855 on the
4-hours chart of the DOGE/USD pair (data source from Kraken). The
pair could decline further if there is a move below $0.080.
Dogecoin Price Extends Losses After a steady increase, Dogecoin’s
price faced resistance near $0.0950. DOGE formed a high near
$0.0950 and started a fresh decline, similar to Bitcoin and
Ethereum. There was a clear move below the $0.0850 support and the
100 simple moving average (4 hours). Besides, there was a break
below a major bullish trend line with support near $0.0855 on the
4-hours chart of the DOGE/USD pair. A low is formed near $0.0825
and the pair is now consolidating losses. On the upside, the price
is facing resistance near the $0.0855 level. It is close to the
23.6% Fib retracement level of the recent decline from the $0.0950
swing high to the $0.0825 low. Source: DOGEUSD on TradingView.com
The next major resistance is near the $0.088 zone and the 100
simple moving average (4 hours). It coincides with the 50% Fib
retracement level of the recent decline from the $0.0950 swing high
to the $0.0825 low. A close above the $0.0885 resistance might send
the price toward the $0.092 resistance. The next major resistance
is near $0.0950. Any more gains might send the price toward the
$0.100 level. More Losses in DOGE? If DOGE’s price fails to gain
pace above the $0.0855 level, it could continue to move down.
Initial support on the downside is near the $0.0825 level. The next
major support is near the $0.080 level. If there is a downside
break below the $0.080 support, the price could decline further. In
the stated case, the price might decline toward the $0.0765 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 – $0.0825, $0.080, and $0.0765. Major
Resistance Levels – $0.0855, $0.0880, and $0.095.
Dogecoin (COIN:DOGEUSD)
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