DOGE price had a strong plunge on April 11th and fells as low as $0.1330 by losing the $0.1450 support level. However, it found support and managed to set for a recovery attempt yesterday. With that, DOGE price climbed all the way back up to $0.1440 but pivoted back down by touching the SMA100 and settled back down on $0.1350. Once again, by having a relatively good support, Dogecoin managed to save the $0.1350 support level. Currently, the Dogecoin is trading at $0.14.
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DOGE Price Action Analysis
Taking a look at the 4-hour chart, we see DOGE price losing a critical support level at $0.1450 and entering a bearish phase. Following that, it fell as low as $0.1330but once again found support at this level. Yesterday, Dogecoin recovered all the way up to $0.1440 but had to stop after reaching the SMA100.
Currently, the first resistance level for Dogecoin is at $0.1450. In case of a successful breakthrough, the downward trendline on the chart will be next. For the bullish scenario, the $0.15 followed by $0.16 are the next resistance levels for Dogecoin.
On the other hand, if DOGE price fails to surpass $0.1450 and subsequently loses the $0.1350 level, we can expect further decline. For the bearish scenario, the $0.1280 and $0.12 will be the next support levels for the price to follow.
The Technical Indicators
MACD indicator: at the time of writing this article the 4-hour MACD for Dogecoin is taking back the upward momentum.
RSI: the relative strength index is approximately 50.
Resistance levels: the first one will be at $0.1450. Following that, we can expect $0.15 and then $0.1580 and finally $0.16 to be resistance levels on the way.
Support levels: first and foremost, the $0.14 will support the price. After that, the $0.1330 will be the next one. And then the $0.13 and finally $0.1280 will support the price next.
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