DOGE price had found support at $0.50 in the last few days and found the opportunity for a rally. With that, Dogecoin managed to surpass $0.060 and $0.070 and reach $0.080. Yet, the price failed to break through this level and went for a correction. Subsequently, Dogecoin lost the $0.070 support on the SMA100. Currently, DOGE price is at $0.065.

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DOGE Price Action Analysis

Taking a look at the 4-hour chart, we see Dogecoin making an initial bull run starting from $0.050. Following that, the price managed to surpass $0.060 and $0.070 and climb all the way up to $0.080. At this point, it had to back down with a correction.

Currently, the $0.065 is the first support level for Dogecoin. In case of good support, DOGE price could make another attempt to surpass $0.080. Before that, it must surpass $0.070 on the SMA100 followed by $0.075. After that, the $0.090 and $0.1 are the next resistance levels for Dogecoin.

On the other hand, if Dogecoin fails to surpass $0.070 and $0.075 and subsequently loses the $0.065, there could be further correction to follow.

With that, the $0.060 will be the next support level for Dogecoin. Further decline can bring DOGE price down to $0.055 and $0.050.

The Technical Indicators

MACD indicator: at the time of writing this article the 4-hour MACD for Dogecoin is on a downward

RSI: the relative strength index is approximately 40.

Resistance levels: the first one will be at $0.070. Following that, we can expect $0.075 and then $0.085 and finally $0.1 to be resistance levels on the way.

Support levels: first and foremost, the $0.060 will support the price. After that, the $0.050 will be the next one.


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