{"id":28333,"date":"2023-08-17T05:53:24","date_gmt":"2023-08-17T09:53:24","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28333"},"modified":"2023-08-17T05:53:24","modified_gmt":"2023-08-17T09:53:24","slug":"dogecoin-price-doge-poised-for-continued-weakness-below-0-07","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/17\/dogecoin-price-doge-poised-for-continued-weakness-below-0-07\/","title":{"rendered":"Dogecoin Price (DOGE) Poised for Continued Weakness Below $0.07"},"content":{"rendered":"

Dogecoin is down over 10% and trading below the $0.070 resistance against the US Dollar. DOGE could extend losses if there is a move below $0.065.<\/em><\/p>\n

DOGE is currently trading in a bearish zone below $0.072 against the US dollar.
\nThe price is trading well below the $0.070 zone and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $0.071 on the 4-hours chart of the DOGE\/USD pair (data source from Kraken).
\nThe price could correct higher but upsides might be limited above $0.072.<\/p>\n

Dogecoin Price Extends Losses<\/h2>\n

After facing a strong rejection near $0.078, Dogecoin price started a fresh decline. DOGE declined over 10% and traded below the $0.0720 support zone to enter a bearish zone, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even settled below the $0.070 level. Finally, it tested the $0.065 zone. A low is formed near $0.0657 and the price is now consolidating losses. It is approaching the 23.6% Fib retracement level of the recent decline from the $0.0772 swing high to $0.0657 low.<\/p>\n

DOGE is now trading well below the $0.070 zone and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.071 on the 4-hours chart of the DOGE\/USD pair.<\/p>\n

On the upside, the price is facing resistance near the $0.0685 level. The first major resistance is near the $0.070 level or the trend line. It is near the 50% Fib retracement level of the recent decline from the $0.0772 swing high to $0.0657 low.<\/p>\n\n

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

A close above the $0.072 resistance might send the price toward the $0.075 resistance. The next major resistance is near $0.0780. Any more gains might send the price toward the $0.080 level.<\/p>\n

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

If DOGE\u2019s price fails to gain pace above the $0.0720 level, it could continue to move down. Initial support on the downside is near the $0.0655 level.<\/p>\n

The next major support is near the $0.0632 level. If there is a downside break below the $0.0632 support, the price could decline further. In the stated case, the price might decline toward 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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $0.0655, $0.0632, and $0.0600.<\/p>\n

Major Resistance Levels \u2013 $0.070, $0.072, and $0.075.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Dogecoin is down over 10% and trading below the $0.070 resistance against the US Dollar. DOGE could extend losses if there is a move below $0.065.<\/em><\/p>\n

DOGE is currently trading in a bearish zone below $0.072 against the US dollar.
\nThe price is trading well below the $0.070 zone and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $0.071 on the 4-hours chart of the DOGE\/USD pair (data source from Kraken).
\nThe price could correct higher but upsides might be limited above $0.072.<\/p>\n

Dogecoin Price Extends Losses<\/h2>\n

After facing a strong rejection near $0.078, Dogecoin price started a fresh decline. DOGE declined over 10% and traded below the $0.0720 support zone to enter a bearish zone, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even settled below the $0.070 level. Finally, it tested the $0.065 zone. A low is formed near $0.0657 and the price is now consolidating losses. It is approaching the 23.6% Fib retracement level of the recent decline from the $0.0772 swing high to $0.0657 low.<\/p>\n

DOGE is now trading well below the $0.070 zone and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.071 on the 4-hours chart of the DOGE\/USD pair.<\/p>\n

On the upside, the price is facing resistance near the $0.0685 level. The first major resistance is near the $0.070 level or the trend line. It is near the 50% Fib retracement level of the recent decline from the $0.0772 swing high to $0.0657 low.<\/p>\n

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

A close above the $0.072 resistance might send the price toward the $0.075 resistance. The next major resistance is near $0.0780. Any more gains might send the price toward the $0.080 level.<\/p>\n

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

If DOGE\u2019s price fails to gain pace above the $0.0720 level, it could continue to move down. Initial support on the downside is near the $0.0655 level.<\/p>\n

The next major support is near the $0.0632 level. If there is a downside break below the $0.0632 support, the price could decline further. In the stated case, the price might decline toward 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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $0.0655, $0.0632, and $0.0600.<\/p>\n

Major Resistance Levels \u2013 $0.070, $0.072, and $0.075.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-28333","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\/28333","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=28333"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28333\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28333"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}