DOGE Price Prediction – Dogecoin Could Restart Drop To $0.12
April 16 2024 - 1:08AM
NEWSBTC
Dogecoin is struggling below the $0.180 resistance zone against the
US Dollar. DOGE must stay above the $0.1450 support zone to start a
fresh increase. DOGE started a fresh decline below the $0.1750 zone
against the US dollar. The price is trading above the $0.1700 level
and the 100 simple moving average (4 hours). There is a key
contracting forming with support at $0.1540 on the 4-hour chart of
the DOGE/USD pair (data source from Kraken). The price could
restart its increase unless there is a close below the $0.1450
support. Dogecoin Price Turns Red After struggling to clear the
$0.20 resistance zone, Dogecoin price started a fresh decline.
There was a sharp bearish move below the $0.180 and $0.1650 levels.
DOGE traded as low as $0.1283 and recently attempted a recovery
wave like Bitcoin and Ethereum. The price climbed above the $0.1450
level. It broke the 23.6% Fib retracement level of the downward
move from the $0.2096 swing high to the $0.1283 low. However, the
bears are active near the $0.1680 resistance and the 50% Fib
retracement level of the downward move from the $0.2096 swing high
to the $0.1283 low. The price is now consolidating near the $0.1550
level. There is also a key contracting forming with support at
$0.1540 on the 4-hour chart of the DOGE/USD pair. Source: DOGEUSD
on TradingView.com Dogecoin is also below the $0.1600 level and the
100 simple moving average (4 hours). On the upside, the price is
facing resistance near the $0.160 level. The next major resistance
is near the $0.170 level. A close above the $0.170 resistance might
send the price toward the $0.1880 resistance. The next major
resistance is near $0.200. Any more gains might send the price
toward the $0.220 level. More Downsides in DOGE? If DOGE’s price
fails to gain pace above the $0.160 level, it could continue to
move down. Initial support on the downside is near the $0.1520
level. The next major support is near the $0.1450 level. If there
is a downside break below the $0.1450 support, the price could
decline further. In the stated case, the price might decline toward
the $0.120 level. Technical Indicators 4 Hours MACD – The MACD for
DOGE/USD is now gaining momentum in the bearish zone. 4 Hours RSI
(Relative Strength Index) – The RSI for DOGE/USD is now below the
50 level. Major Support Levels – $0.1520, $0.1450 and $0.1280.
Major Resistance Levels – $0.1600, $0.1780, and $0.200.
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