DOGE Price Prediction – Dogecoin Below $0.14 Could Spark Larger Degree Drop

Dogecoin Struggles to Break Resistance, Faces Downturn Signals

Dogecoin (DOGE) is encountering resistance at $0.1650 against the US Dollar. A decline below $0.140 support could lead to significant losses.

Hurdle at Resistance Levels

DOGE faces obstacles near $0.1650 and $0.170 against the USD. It trades below $0.1620 and the 100 simple moving average (4 hours).

A bearish trend line forms resistance at $0.1620 on the 4-hour DOGE/USD chart (data from Kraken).

Failed Recovery Attempt

After a sharp decline, DOGE initiated a recovery from $0.1280. It reached a high of $0.1350, but failed to surpass $0.170 resistance.

The price retraced below the 50% Fib level of the downward move from $0.2092 to $0.1283.

Downward Momentum

DOGE remains below $0.160 and the 100 SMA. It faces resistance near $0.160, with the next major hurdle at $0.1680.

A breakout above $0.170 could push the price towards $0.1850 and $0.20.

Potential Losses

If DOGE fails to hold above $0.160, it could decline further. Initial support lies at $0.1475, followed by $0.1400. A break below $0.1400 could lead to a drop towards $0.120.

Technical Indicators

• 4-Hour MACD: Gaining momentum in the bearish zone.
• 4-Hour RSI: Below 50, indicating bearish sentiment.

Support and Resistance Levels

• Support: $0.1475, $0.1400, $0.1200
• Resistance: $0.1600, $0.1680, $0.1700

Disclaimer: This article is for educational purposes only. It does not provide investment advice, and investing involves risk. Conduct your own research before making any investment decisions. Use information at your own risk.

Tags: DOGE/BTC, Dogecoin, DOGE/USD, DOGE/USDT