Dogecoin Price (DOGE) Slips Into the Red: Key Hurdles to Watch

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,176,883,999,113	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,176,883,999,113

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	513.42	0.86%	60,010.00	60,009.99	60,010.00

Price Change

Price Change %

Current Price

Bid Price

Offer

513.42

0.86%

60,010.00

60,009.99

60,010.00

High Price	Low Price	Open Price	Prev. Close	52 Week Range
60,225.53	58,518.00	59,363.34	59,496.58	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

60,225.53

58,518.00

59,363.34

59,496.58

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:19:50	0.00000017	60,008.73	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:19:50

0.00000017

60,008.73

USD

Price x Volume	Volume	Base Symbol	Related Pairs
293,205,270.73	4,946.02	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

293,205,270.73

4,946.02

Dogecoin Price (DOGE) Slips Into the Red: Key Hurdles to Watch

28/08/2024 7:08am

NEWSBTC

Dogecoin started a fresh decline from well above $0.1100 against the US Dollar. DOGE is down over 10% and struggling to start a recovery wave. DOGE price started a fresh decline and traded below $0.100. The price is trading below the $0.1050 level and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.1025 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start a recovery wave if it clears the $0.100 and $0.1025 levels. Dogecoin Price Faces Hurdles In the past few sessions, Dogecoin price saw a fresh decline below the $0.1050 level like Bitcoin and Ethereum. The price traded below the $0.100 level to enter a short-term bearish zone. There was a spike below the $0.0980 level. A low was formed at $0.0962 and the price is now attempting a recovery wave. There was a minor increase above the $0.0988 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.1064 swing high to the $0.0962 low. Dogecoin price is now trading below the $0.1050 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1012 level. The next major resistance is near the $0.1025 level. There is also a key bearish trend line forming with resistance at $0.1025 on the hourly chart of the DOGE/USD pair. The trend line is close to the 50% Fib retracement level of the downward move from the $0.1064 swing high to the $0.0962 low. A close above the $0.1025 resistance might send the price toward the $0.1088 resistance. Any more gains might send the price toward the $0.1120 level. The next major stop for the bulls might be $0.1250. More Downsides In DOGE? If DOGE’s price fails to climb above the $0.1025 level, it could start another decline. Initial support on the downside is near the $0.0962 level. The next major support is near the $0.095 level. The main support sits at $0.0920. If there is a downside break below the $0.0920 support, the price could decline further. In the stated case, the price might decline toward the $0.0880 level or even $0.0850 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.0962 and $0.0920. Major Resistance Levels – $0.1025 and $0.1088.

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