Dogecoin (DOGE) Plummets: Bears Take Full Control of the Market

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,910,340,493,085	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,910,340,493,085

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-897.62	-0.92%	96,563.57	96,554.83	96,562.59

Price Change

Price Change %

Current Price

Bid Price

Offer

-897.62

-0.92%

96,563.57

96,554.83

96,562.59

High Price	Low Price	Open Price	Prev. Close	52 Week Range
98,132.47	92,115.66	97,491.91	97,461.19	38,501.00 - 108,388.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

98,132.47

92,115.66

97,491.91

97,461.19

38,501.00 - 108,388.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	17:07:03	0.045954	96,538.77	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

17:07:03

0.045954

96,538.77

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,793,127,711.25	18,762.38	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,793,127,711.25

18,762.38

Dogecoin (DOGE) Plummets: Bears Take Full Control of the Market

20/12/2024 5:08am

NEWSBTC

Dogecoin started a major decline below the $0.3550 support against the US Dollar. DOGE is now consolidating and might struggle to recover above the $0.350 resistance. DOGE price started a fresh decline below the $0.3650 level. The price is trading below the $0.3550 level and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $0.3550 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could struggle to start a fresh increase above the $0.3550 and $0.3650 resistance levels. Dogecoin Price Dips Sharply Dogecoin price started a fresh decline from well above $0.400 like Bitcoin and Ethereum. DOGE traded below the $0.380 and $0.3650 support levels. It even spiked below $0.320. A low was formed at $0.30 and the price is now consolidating losses. It recovered some points and climbed above $0.320. It tested the 23.6% Fib retracement level of the downward move from the $0.4096 swing high to the $0.300 low. Dogecoin price is now trading below the $0.3550 level and the 100-hourly simple moving average. There is also a connecting bearish trend line forming with resistance at $0.3550 on the hourly chart of the DOGE/USD pair. Immediate resistance on the upside is near the $0.3250 level. The first major resistance for the bulls could be near the $0.340 level. The next major resistance is near the $0.3550 level or the 50% Fib retracement level of the downward move from the $0.4096 swing high to the $0.300 low. A close above the $0.3550 resistance might send the price toward the $0.3650 resistance. Any more gains might send the price toward the $0.380 level. The next major stop for the bulls might be $0.40. More Losses In DOGE? If DOGE’s price fails to climb above the $0.3550 level, it could start another decline. Initial support on the downside is near the $0.3050 level. The next major support is near the $0.3050 level. The main support sits at $0.30. If there is a downside break below the $0.30 support, the price could decline further. In the stated case, the price might decline toward the $0.280 level or even $0.2620 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.3050 and $0.3000. Major Resistance Levels – $0.3400 and $0.3550.

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