Dogecoin (DOGE) Struggles to Climb — Upside Moves Likely to Face Strong Resistance 🐶
Dogecoin (DOGE) is experiencing a fresh decline from the $0.1820 zone against the US Dollar, consolidating losses with hopes for recovery if it surpasses $0.1750. The cryptocurrency is currently trading below $0.1780 and the 100-hourly simple moving average, following failed attempts to break through major resistance levels.
A bearish trend line with resistance at $0.1680 was broken, but DOGE still faces challenges in overcoming $0.1780. Immediate resistance sits near $0.1725, while major hurdles remain at $0.1750 and $0.1820. Successful surges above these could propel DOGE towards $0.1880 and $0.200.
If unable to surpass $0.1750, DOGE might encounter support at $0.1680 and further drop towards $0.1640 and $0.1620. Breaking below these can lead to a decline towards $0.150 or even $0.1440. Technical indicators reveal a bearish MACD and an RSI above the 50 level.
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