Bitcoin

Dogecoin

Resistance

Dogecoin is struggling below the $0.180 resistance zone against the US Dollar. DOGE must stay above the $0.1450 support zone to start a fresh increase. 
<ul> 
 <li>DOGE started a fresh decline below the $0.1750 zone against the US dollar.</li> 
 <li>The price is trading above the $0.1700 level and the 100 simple moving average (4 hours).</li> 
 <li>There is a key contracting forming with support at $0.1540 on the 4-hour chart of the DOGE/USD pair (data source from Kraken).</li> 
 <li>The price could restart its increase unless there is a close below the $0.1450 support.</li> 
</ul> 
<h2 id="dogecoin-price-turns-red">Dogecoin Price Turns Red</h2> 
After struggling to clear the $0.20 resistance zone, Dogecoin price started a fresh decline. There was a sharp bearish move below the $0.180 and $0.1650 levels. DOGE traded as low as $0.1283 and recently attempted a recovery wave like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-restarts-decline-60k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-recovery-fails-3250/" target="_blank" rel="noopener ">Ethereum</a>. 
The price climbed above the $0.1450 level. It broke the 23.6% Fib retracement level of the downward move from the $0.2096 swing high to the $0.1283 low. 
However, the bears are active near the $0.1680 resistance and the 50% Fib retracement level of the downward move from the $0.2096 swing high to the $0.1283 low. The price is now consolidating near the $0.1550 level. There is also a key contracting forming with support at $0.1540 on the 4-hour chart of the DOGE/USD pair. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Doegcoin-DOGE_a1dbd7.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-603420" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Doegcoin-DOGE_a1dbd7.png?resize=1024%2C461" alt="DOGE Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Doegcoin-DOGE_a1dbd7.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Doegcoin-DOGE_a1dbd7.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Doegcoin-DOGE_a1dbd7.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Doegcoin-DOGE_a1dbd7.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Doegcoin-DOGE_a1dbd7.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Doegcoin-DOGE_a1dbd7.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Doegcoin-DOGE_a1dbd7.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/DOGEUSD/" target="_blank" rel="noopener nofollow">DOGEUSD on TradingView.com</a> 
Dogecoin is also below the $0.1600 level and the 100 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.160 level. The next major resistance is near the $0.170 level. A close above the $0.170 resistance might send the price toward the $0.1880 resistance. The next major resistance is near $0.200. Any more gains might send the price toward the $0.220 level. 
<h2 id="more-downsides-in-doge">More Downsides in DOGE?</h2> 
If DOGE’s price fails to gain pace above the $0.160 level, it could continue to move down. Initial support on the downside is near the $0.1520 level. 
The next major support is near the $0.1450 level. If there is a downside break below the $0.1450 support, the price could decline further. In the stated case, the price might decline toward the $0.120 level. 
Technical Indicators 
4 Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. 
4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. 
Major Support Levels – $0.1520, $0.1450 and $0.1280. 
Major Resistance Levels – $0.1600, $0.1780, and $0.200.

DOGE Price Prediction – Dogecoin Could Restart Drop To $0.12

Indice dei contenuti

NewsBTC

Altri articoli pubblicati su 16 apr 2024

Humane AI Pin’s Stumbles: A Catalyst for Apple’s Innovation Strategy

Runes Protocol Set To Launch As Bitcoin Halving Nears – A Threat To BRC-20 Dominance?

Nimiq Unveils Nimiq Pay: A Revolutionary Self-Custodial Crypto Payment App

PayPal removes NFT transaction protections

Ripple CTO Commented on Elon Musk’s Move to Impose Charges

Top 3 Undervalued Altcoins Ahead Of Bitcoin Halving

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!