Dogecoin Price Forecast: Will Dogecoin Bulls Overcome This Obstacle?

Following a close below $0.150, Dogecoin experienced further declines, entering a short-term bearish trend alongside Bitcoin and Ethereum, dropping below the $0.1450 support level to reach a low of $0.1358. Currently in a recovery phase, DOGE saw a minor uptick above $0.1420, surpassing the 23.6% Fib retracement level of its recent downward movement. However, it remains below the $0.1450 resistance level and the 100 simple moving average (4 hours). A key obstacle lies at the $0.1430 level, with a bearish trend line forming resistance. Beyond this, significant resistance awaits near $0.1450 and the 100 simple moving average. A breakthrough above $0.1450 could propel DOGE toward $0.1535 and potentially $0.1620. Conversely, failure to surpass $0.1450 may trigger another decline, with initial support near $0.140 and major support at $0.1360. Further downside could lead DOGE toward $0.1200. Currently, the 4-hour MACD indicates waning bearish momentum, while the RSI hovers above the 50 level.

Technical Indicators

4 Hours MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone.

4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.1400, $0.1360 and $0.1200.

Major Resistance Levels – $0.1430, $0.1450, and $0.1535.

Join Telegram Channel For Daily New update: https://t.me/cryptotelegraphs_updates