Dogecoin (DOGE) Weakens Again – Bulls On Alert As Downside Risks Resurface 📉
Dogecoin experienced a fresh decline below the $0.260 zone against the US Dollar. The cryptocurrency is now consolidating and risks further dips if it remains under the $0.2550 mark. The price is trading below both the $0.2550 level and the 100-hourly simple moving average, reflecting bearish momentum.
A trend line of resistance is forming at $0.2570 on the hourly DOGE/USD chart, indicating ongoing pressure on the price. For any recovery, resistance levels at $0.2550 and $0.260 are crucial.
If these levels are breached, the price could trend towards $0.2780 and beyond; however, failure to rise above $0.2550 might lead to further declines with support at $0.2420 and potentially lower.
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