Dogecoin Price Slips Alongside Bitcoin and Ethereum, Under the $0.1150 area versus the USD, Dogecoin began a steep fall. DOGE has broken below $0.100 and is exhibiting numerous negative indicators.
- The price of DOGE has fallen by more than 15% since it was above the $0.1200 pivot zone.
- Both the $0.100 mark and the 100-hour simple moving average are being violated by the price.
- According to data from Kraken, the DOGE/USD pair is showing a crucial bearish trend line with resistance at $0.1000 on the hourly chart.
- The price may keep falling till it breaks back above the $0.100 level of resistance.
A drop of More Than 15% in Dogecoin Price
Like Bitcoin and Ethereum, Dogecoin’s price has taken a nosedive in the last several sessions. Once the bears gained control, they drove the price down, below the support levels of $0.1120 and $0.1050.
Even the $0.1000 support level was breached by the price. The price of DOGE is now consolidating losses after forming a low at $0.0881. Several negative indicators have been appearing below the $0.0881 low, which is the 23.6% Fibonacci retracement level of the decline from the $0.1194 swing high.
At the moment, Dogecoin prices are lower below both the 100-hour simple moving average and the $0.100 mark. Near the $0.0950 level, there is immediate upward resistance. Near the $0.1000 level, you will find the next significant barrier. In addition, the hourly DOGE/USD chart shows the formation of a crucial negative trend line, with resistance at $0.1000.
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Price action at the $0.1040 barrier or the 50% Fib retracement level of the decline from the $0.1194 swing high to the $0.0881 low could be anticipated if the $0.100 resistance is broken. If prices continue to rise, Dogecoin price slips alongside Bitcoin and Ethereum today, they might reach the $0.1080 mark. The bulls may see $0.1120 as their next big target.
Is DOGE Still Contaminated?
Another drop might be in store for DOGE news if its price can’t rise over $0.1000. Near the $0.0880 level, there is initial downward support. When we break below $0.0850, we will find our next big support.
The key level of support is $0.0780. The price could fall even further if it breaks below the $0.0780 support level. The aforementioned scenario suggests a possible price drop around the $0.0720 mark.
- Key Performance Indicators
- The hourly MACD for DOGE/USD is now trending downwards.
- The relative Strength Index (RSI) for the hourly chart shows that the DOGE/USD RSI has fallen below the 50 mark.
- There are two major support levels: $0.0880 and $0.0780.
- Important Support and Resistance Levels – $0.0950 and $0.1000.
- Further Information: Btccovert
