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?> Dogecoin (DOGE) Faces Market Correction—Will Buyers Step Back In?
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NewsBTC 2025-03-28 05:08:02

Dogecoin (DOGE) Faces Market Correction—Will Buyers Step Back In?

Dogecoin (DOGE) Faces Market Correction—Will Buyers Step Back In?

Dogecoin started a fresh decline from the $0.2050 zone against the US Dollar. DOGE is declining and might test the $0.180 support zone. DOGE price started a fresh decline below the $0.1980 and $0.1920 levels. The price is trading above the $0.180 level and the 100-hourly simple moving average. There was a break below a connecting bullish trend line with support at $0.1950 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could gain bullish momentum if it clears the $0.1940 and $0.1980 resistance levels. Dogecoin Price Dips Again Dogecoin price started a fresh decline after it failed to clear $0.2050, like Bitcoin and Ethereum . DOGE dipped below the $0.1980 and $0.1920 support levels. The bears were able to push the price below the 23.6% Fib retracement level of the upward move from the $0.1665 swing low to the $0.2057 high. There was also a break below a connecting bullish trend line with support at $0.1950 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.180 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1920 level. The first major resistance for the bulls could be near the $0.1980 level. The next major resistance is near the $0.2050 level. A close above the $0.2050 resistance might send the price toward the $0.2150 resistance. Any more gains might send the price toward the $0.2220 level. The next major stop for the bulls might be $0.2350. More Losses In DOGE? If DOGE’s price fails to climb above the $0.1920 level, it could start another decline. Initial support on the downside is near the $0.1860 level and the 50% Fib retracement level of the upward move from the $0.1665 swing low to the $0.2057 high. The next major support is near the $0.1820 level. The main support sits at $0.1750. If there is a downside break below the $0.1750 support, the price could decline further. In the stated case, the price might decline toward the $0.170 level or even $0.1650 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.1860 and $0.1820. Major Resistance Levels – $0.1920 and $0.1980.

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