DOGE price managed to touch $0.2830 on Monday but failed to stabilize and had to back down. Subsequently, the price came down as low as $0.2580. At that point, DOGE found good support and did not fall any further. DOGE price has been consolidating in the past 24 hours between $0.2580 and $0.2680. Currently, the price is around $0.2650.
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DOGE Price Action Analysis
Taking a look at the 1-hour chart, we see DOGE stuck between a downtrend and an uptrend. Breaking each of them could determine the path that will follow.
As of now, the $0.2650 is the first resistance level for the price. Surpassing this level and stabilizing above it would pave the way to reach $0.27 and $0.28. The $0.29 and $0.30 are the next crucial resistance levels.
On the other hand, if DOGE fails to surpass the downtrend at $0.2650 and lose the $0.2630 support, there could be further price correction.
For the bearish scenario, the $0.26 to $0.2580 zone is the next support level. Further decline can bring the price closer to the $0.2550 and the SMA100. The $0.25, $0.2420 to $0.20 are also the next support levels for DOGE price.
The Technical Indicators
MACD indicator: at the time of writing this article the 1-hour MACD for Dogecoin is on a weak downward momentum and is regaining upward momentum.
RSI: the relative strength index is approximately 52.
Resistance levels: the first one will be $0.2650. Following that, we can expect $0.27 to $0.2750 zone and then $0.2840, $0.29 and $0.30 to be resistance levels on the way.
Support levels: first and foremost, the $0.2630 will support the price. After that, the $0.2580 will be the next one. And then the $0.2550 and finally $0.25 will support the price next.
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