CandleFocus Dogecoin (DOGE) Falls to Support: Can It Avoid a Breakdown?
2024-10-02
Author: Content Editor
The price of Dogecoin (DOGE) has continued to decline and is currently trading below $0.1120 against the US Dollar. The price failed to break above the resistance at $0.1320 and has since moved downwards. It dipped below support levels at $0.1200 and $0.1150, reaching a low of $0.1025. The price is now consolidating losses and has seen a minor increase above $0.1060. Currently, DOGE is trading below the $0.1150 level and the 100-hourly simple moving average. The immediate resistance is around $0.1095, and a close above this level could send the price towards $0.1175 and $0.1200. On the other hand, if the price fails to climb above $0.1095, it could see another decline, with initial support at $0.1060 and $0.1050. The main support level is at $0.100, and a break below this could lead to further decline towards $0.0950 or even $0.0880. Technical indicators suggest a bearish trend, with the MACD losing momentum in the bearish zone and the RSI below 50.
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