• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

    2023-09-28

    Valentino Rossi Steps into The Sandbox with ValeVerse

    2023-09-27

    Opportunities for Artists and Creators at Decentraland Music Festival 2023

    2023-09-26

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25

    Upland and KABOOM! Unite to Address Playspace Inequity

    2023-09-22
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Ripple files motion to block SEC appeal attempt

    2023-09-04

    JP Morgan believes SEC will be forced to approve ETFs after losing case against Grayscale

    2023-09-03

    Ripple Files Motion To Oppose SEC Appeal Over Landmark XRP Ruling

    2023-09-03

    U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

    2023-09-02

    Navigating the significance of legal opinions in the crypto sphere

    2023-09-02
  • Learn

    What Is Toncoin (TON)? Everything You Need To Know

    2023-09-28

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18

    What Are Altcoins? Best Altcoins to Buy  – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-08
  • Market Cap
CryptoNewsMetaverse
Home»Analysis»Dogecoin Price Tumbles Below Support, Why This Could Be Strong Bearish
Analysis

Dogecoin Price Tumbles Below Support, Why This Could Be Strong Bearish

2022-12-30No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Dogecoin extended its decline below the $0.070 support against the US Dollar. DOGE could continue to move down towards the $0.0620 support zone.

  • DOGE gained pace and traded below the $0.072 support against the US dollar.
  • The price is trading below the $0.0700 zone and the 100 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.0698 on the 4-hours chart of the DOGE/USD pair (data source from Kraken).
  • The pair could dive further towards the $0.062 support in the near term.

Dogecoin Price Signals Bearish

In the past few days, dogecoin saw a steady decline from the $0.080 resistance zone. DOGE reacted to the downside below the $0.0750 and $0.0720 support levels.

The decline gained pace below the $0.072 level and the 100 simple moving average (4-hours). More importantly, there was a clear move below the $0.070 support zone, opening the doors for a major decline. The price is now trading well below the $0.0700 zone and the 100 simple moving average (4-hours).

Doge price traded as low as $0.0667 and is currently showing a lot of bearish signs, similar bitcoin and ethereum. On the upside, the price is facing resistance near the $0.0695 level.

The first major resistance is near the $0.0700 level. There is also a key bearish trend line forming with resistance near $0.0698 on the 4-hours chart of the DOGE/USD pair. The trend line is near the 23.6% Fib retracement level of the downward move from the $0.0795 swing high to $0.0667 low.

A clear move above the trend line might send the price towards the $0.073 resistance. It is near the 50% Fib retracement level of the downward move from the $0.0795 swing high to $0.0667 low.

Dogecoin Price

Source: DOGEUSD on TradingView.com

Any more gains might send the price towards the $0.0765 level and the 100 SMA. The main hurdle seems to be forming near the $0.080 zone. A clear move above the $0.080 resistance could open the gates for a rally towards the $0.100 level.

More Losses in DOGE?

If DOGE price fails to gain pace above the $0.070 level, it could continue to move down. An initial support on the downside is near the $0.0665 level.

The next major support is near the $0.062 level. If there is a downside break below the $0.0620 support, the price could decline further. In the stated case, the price might decline towards the $0.060 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 in the oversold zone.

Major Support Levels – $0.0665, $0.0662 and $0.0600.

Major Resistance Levels – $0.070, $0.0730 and $0.080.

Source link

Bearish Dogecoin Price strong Support Tumbles
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SingularityNET (AGIX) Price Prediction 2023 2024 2025

2023-09-18

Arbitrum (ARB) Price Prediction 2023 2024 2025

2023-08-30

Baby Doge Coin (BabyDoge) Price Prediction 2023 2024 2025

2023-08-25

XEN Crypto (XEN) Price Prediction 2023 2024 2025

2023-08-25
Add A Comment

Leave A Reply Cancel Reply

Top Posts

ETH, SP500, and the Fed- what their movements mean for crypto investors

2022-04-05

LINK And CRO Reflect Positive Moves Amidst Market Uncertainty

2022-10-01

Bitcoin Trading Volume Has Now Stabilized At High Values, But For How Long?

2022-03-09

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$26,953.00-0.74%
  • ethereumEthereum(ETH)$1,668.500.48%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.03%
  • binancecoinBNB(BNB)$215.810.12%
  • rippleXRP(XRP)$0.534.94%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • Lido Staked EtherLido Staked Ether(STETH)$1,666.970.37%
  • dogecoinDogecoin(DOGE)$0.0620640.86%
  • cardanoCardano(ADA)$0.249131-0.30%