{"id":15041,"date":"2022-12-30T11:53:15","date_gmt":"2022-12-30T15:53:15","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15041"},"modified":"2022-12-30T11:53:15","modified_gmt":"2022-12-30T15:53:15","slug":"dogecoin-price-tumbles-below-support-why-this-could-be-strong-bearish","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/30\/dogecoin-price-tumbles-below-support-why-this-could-be-strong-bearish\/","title":{"rendered":"Dogecoin Price Tumbles Below Support, Why This Could Be Strong Bearish"},"content":{"rendered":"

Dogecoin extended its decline below the $0.070 support against the US Dollar. DOGE could continue to move down towards the $0.0620 support zone.<\/em><\/p>\n

DOGE gained pace and traded below the $0.072 support against the US dollar.
\nThe price is trading below the $0.0700 zone and the 100 simple moving average (4-hours).
\nThere is a key bearish trend line forming with resistance near $0.0698 on the 4-hours chart of the DOGE\/USD pair (data source from Kraken).
\nThe pair could dive further towards the $0.062 support in the near term.<\/p>\n

Dogecoin Price Signals Bearish<\/h2>\n

In the past few days, dogecoin saw a steady decline from the $0.080 resistance zone. DOGE reacted to the downside below the $0.0750 and $0.0720 support levels.<\/p>\n

The decline gained pace below the $0.072 level and the 100 simple moving average (4-hours). More importantly, there was a clear move below the $0.070 support zone, opening the doors for a major decline. The price is now trading well below the $0.0700 zone and the 100 simple moving average (4-hours).<\/p>\n

Doge price traded as low as $0.0667 and is currently showing a lot of bearish signs, similar bitcoin<\/a> and ethereum<\/a>. On the upside, the price is facing resistance near the $0.0695 level.<\/p>\n

The first major resistance is near the $0.0700 level. There is also a key bearish trend line forming with resistance near $0.0698 on the 4-hours chart of the DOGE\/USD pair. The trend line is near the 23.6% Fib retracement level of the downward move from the $0.0795 swing high to $0.0667 low.<\/p>\n

A clear move above the trend line might send the price towards the $0.073 resistance. It is near the 50% Fib retracement level of the downward move from the $0.0795 swing high to $0.0667 low.<\/p>\n

<\/a><\/p>\n

Source: DOGEUSD on TradingView.com<\/a><\/p>\n

Any more gains might send the price towards the $0.0765 level and the 100 SMA. The main hurdle seems to be forming near the $0.080 zone. A clear move above the $0.080 resistance could open the gates for a rally towards the $0.100 level.<\/p>\n

More Losses in DOGE?<\/h2>\n

If DOGE price fails to gain pace above the $0.070 level, it could continue to move down. An initial support on the downside is near the $0.0665 level.<\/p>\n

The next major support is near the $0.062 level. If there is a downside break below the $0.0620 support, the price could decline further. In the stated case, the price might decline towards the $0.060 level.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for DOGE\/USD is now gaining momentum in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for DOGE\/USD is now in the oversold zone.<\/p>\n

Major Support Levels \u2013 $0.0665, $0.0662 and $0.0600.<\/p>\n

Major Resistance Levels \u2013 $0.070, $0.0730 and $0.080.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Dogecoin extended its decline below the $0.070 support against the US Dollar. DOGE could continue to move down towards the $0.0620 support zone.<\/em><\/p>\n

DOGE gained pace and traded below the $0.072 support against the US dollar.
\nThe price is trading below the $0.0700 zone and the 100 simple moving average (4-hours).
\nThere is a key bearish trend line forming with resistance near $0.0698 on the 4-hours chart of the DOGE\/USD pair (data source from Kraken).
\nThe pair could dive further towards the $0.062 support in the near term.<\/p>\n

Dogecoin Price Signals Bearish<\/h2>\n

In the past few days, dogecoin saw a steady decline from the $0.080 resistance zone. DOGE reacted to the downside below the $0.0750 and $0.0720 support levels.<\/p>\n

The decline gained pace below the $0.072 level and the 100 simple moving average (4-hours). More importantly, there was a clear move below the $0.070 support zone, opening the doors for a major decline. The price is now trading well below the $0.0700 zone and the 100 simple moving average (4-hours).<\/p>\n

Doge price traded as low as $0.0667 and is currently showing a lot of bearish signs, similar bitcoin<\/a> and ethereum<\/a>. On the upside, the price is facing resistance near the $0.0695 level.<\/p>\n

The first major resistance is near the $0.0700 level. There is also a key bearish trend line forming with resistance near $0.0698 on the 4-hours chart of the DOGE\/USD pair. The trend line is near the 23.6% Fib retracement level of the downward move from the $0.0795 swing high to $0.0667 low.<\/p>\n

A clear move above the trend line might send the price towards the $0.073 resistance. It is near the 50% Fib retracement level of the downward move from the $0.0795 swing high to $0.0667 low.<\/p>\n

<\/a><\/p>\n

Source: DOGEUSD on TradingView.com<\/a><\/p>\n

Any more gains might send the price towards the $0.0765 level and the 100 SMA. The main hurdle seems to be forming near the $0.080 zone. A clear move above the $0.080 resistance could open the gates for a rally towards the $0.100 level.<\/p>\n

More Losses in DOGE?<\/h2>\n

If DOGE price fails to gain pace above the $0.070 level, it could continue to move down. An initial support on the downside is near the $0.0665 level.<\/p>\n

The next major support is near the $0.062 level. If there is a downside break below the $0.0620 support, the price could decline further. In the stated case, the price might decline towards the $0.060 level.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for DOGE\/USD is now gaining momentum in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for DOGE\/USD is now in the oversold zone.<\/p>\n

Major Support Levels \u2013 $0.0665, $0.0662 and $0.0600.<\/p>\n

Major Resistance Levels \u2013 $0.070, $0.0730 and $0.080.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-15041","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=15041"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15041\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15041"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}