Dogecoin (DOGE) at Risk — Can Support Hold This Time? 📉
Dogecoin has initiated a fresh decline from the $0.2540 zone against the US Dollar, consolidating losses and potentially extending below the $0.2200 mark. The price is currently below the $0.240 level and the 100-hourly simple moving average. A connecting bullish trend line at $0.2230 offers some support on the hourly DOGE/USD chart.
Dogecoin price began declining after failing to clear the $0.2550 zone, contrary to Bitcoin and Ethereum. Bears pushed the price below the $0.2200 level with a low formed at $0.2157 while consolidating losses. A minor increase crossed the 23.6% Fib retracement from $0.2542 swing high to $0.2157 low. Immediate resistance lies at $0.230, with major resistance levels at $0.2350 and $0.2420.
If DOGE's price can't surpass $0.2350, it risks another decline with initial support at $0.220. Main support remains at $0.2120. A drop below could decrease the price toward $0.20 or $0.1840 shortly.
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