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Home»EXCHANGE NEWS»DOGE Price Prediction – Dogecoin below $0.14 could trigger a deeper decline.
EXCHANGE NEWS

DOGE Price Prediction – Dogecoin below $0.14 could trigger a deeper decline.

By Crypto FlexsApril 26, 20243 Mins Read
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Dogecoin is struggling to break above the $0.1650 resistance level against the US dollar. If DOGE falls below the $0.140 support, it could fall significantly.

  • DOGE faces many obstacles near the $0.1650 and $0.170 levels against the US dollar.
  • The price is trading below the $0.1620 level and the 100 simple moving average (4-hours).
  • On the 4-hours chart of the DOGE/USD pair, there is a major bearish trendline forming at resistance $0.1620 (data source from Kraken).
  • The price should stabilize above $0.170 to move into positive territory and start a new surge.

Dogecoin price decline signal

After a major decline, Dogecoin price began a recovery in the $0.1280 region. The low was formed at $0.1283, and DOGE surpassed $0.1350 like Bitcoin and Ethereum.

There was movement above the $0.1385 and $0.140 resistance levels. The price broke above the 23.6% Fib retracement level moving down from the $0.2092 swing high to the $0.1283 low. However, bears protected further gains above the $0.170 resistance.

The price failed to test the 50% Fib retracement level moving down from the $0.2092 swing high to the $0.1283 low. There is also a major bearish trend line forming with resistance at $0.1620 on the 4-hours chart of the DOGE/USD pair.

Dogecoin is also below the $0.160 level and the 100 simple moving average (4-hours). On the other hand, the price is finding resistance near $0.160.

Source: DOGEUSD on TradingView.com

The next major resistance is near the $0.1680 level. The main hurdle is $0.170. A close above the $0.170 resistance line may cause the price to head towards the $0.1850 resistance line. If more profits are made, the price may drop to the $0.20 level.

Will there be more losses in DOGE?

If DOGE’s price fails to rise above the $0.160 level, another decline could begin. Initial support for the downside is near the $0.1475 level.

The next major support is near the $0.1400 level. A break below the $0.1400 support could lead the price to fall further. If specified, the price may fall to the $0.120 level.

technical indicators

4-Hour MACD – The MACD for DOGE/USD is now gaining momentum in bearish territory.

4-Hour RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Key support levels – $0.1475, $0.1400 and $0.1200.

Key resistance levels – $0.1600, $0.1680 and $0.1700.

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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